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S&P acts on corporates with Nigerian exposure
S&P said it took rating actions Nigeria-exposed corporate issuers that are rated at or above the sovereign rating. This follows S&P’s downgrade of the country’s rating to B- on March 26.
The agency downgraded IHS Netherlands Holdco BV to B- from B and revised the outlook to stable from negative.
S&P also downgraded to BB from BB+ the following: MTN Group Ltd., Mobile Telephone Networks Holdings (Pty) Ltd. and MTN (Mauritius) Investments Ltd. The recovery rating on Mobile Telephone’s debt is unchanged at 3.
The agency affirmed Seplat Petroleum Development Co.’s B issuer credit and B- issue rating and revised the outlook to negative from stable.
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