Fitch gives MTN Group A+

Fitch Ratings said it assigned MTN Group Ltd. a national long-term rating of A+(zaf) with a stable outlook.

"The national rating reflects MTN's sound financial performance and successful track record of operating in multiple African markets where it enjoys high EBITDA margins and has benefited from rapid subscriber and revenue growth due to low penetration levels", said David Makoni, associate director in Fitch's corporate group in Johannesburg.

The rating also takes into consideration the high investment risks attached to many of those markets, their increasingly competitive status and the higher leverage and acquisition risk related to the acquisition of Investcom, which also has operations in some high-risk Middle Eastern markets, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.