Fitch assigns IHS Holding BB-

Fitch Ratings said it assigned IHS Holding Ltd. a first-time long-term issuer default rating of BB- with a stable outlook and a senior unsecured instrument rating of BB- with an RR4 recovery rating.

Fitch also put IHS Netherlands Holdco BV's B IDR and senior unsecured instrument ratings on rating watch positive. The placement, Fitch said, follows the recent consent solicitation to expand the current bond's restricted group to include the IHS Holding group.

If IHS gets consent, the agency said it plans to upgrade both the long-term IDR and senior unsecured ratings of IHS Netherlands to the same level of IHS Holding's ratings. This upgrade would be in line with Fitch's “Parent and Subsidiary Linkage Rating Criteria,” and withdraw IHS Netherlands’ IDR.

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