S&P affirms IHS Netherlands

S&P said it affirmed its B+ issuer and issue-level ratings on IHS Netherlands Holdco BV and its $800 million senior unsecured notes.

The outlook is stable, reflecting the outlook on Nigeria.

S&P said IHS Netherlands' performance remains resilient, with improving tenancy ratios and a well-positioned balance sheet. IHS Netherlands' creditworthiness is supported by the company's status as a core subsidiary of IHS Holding Ltd., which is the largest independent mobile tower operator in Europe, the Middle East, and Africa.

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