S&P shifts IHS Netherlands view to negative

S&P said it revised the outlook for IHS Netherlands HoldCo BV to negative from stable and affirmed its B ratings.

The negative outlook on IHS Netherlands reflects the negative outlook on Nigeria because S&P said it expects it would lower the transfer and convertibility assessment on Nigeria if the agency lowered the long-term foreign currency rating on Nigeria.

The outlook also reflects S&P’s anticipation the company will maintain stable credit ratios, including debt to EBITDA about 3x and funds from operations to debt of 25%-30% on average over 2020-2021.

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