S&P rates IHS Netherlands bonds B+

S&P said it assigned its preliminary B+ long-term corporate credit rating to IHS Netherlands HoldCo BV. The outlook is stable.

S&P also assigned a preliminary B+ issue rating to the proposed $800 million bond to be issued by IHS Netherlands.

IHS Netherlands is a newly set up subsidiary of Africa-focused mobile tower infrastructure company IHS Holding Ltd. (IHS Holding).

“In our opinion, the preliminary rating on IHS Netherlands is supported by our assessment that it is a core subsidiary of its parent IHS Holding, the largest independent mobile tower infrastructure operator in Africa,” S&P said in a news release.

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