MTN's acquisition of IHS will temporarily weaken its credit metrics assuming the acquisition is partly debt funded. The acquisition will increase efficiencies and reduce leases.
Our credit view of this issuer reflects its leading market position and strong fundamental growth prospects, offset by exposure to high risk sovereign environments.
Our credit view of this issuer reflects its leading market position and good profitability, offset by intense competition in its mature home market of South Africa and increased country risk
We expect cash flow contribution from Nigeria, MTN's largest country of operations, to reduce but credit quality will be preserved thanks to low leverage and strong liquidity
Growth in Nigeria will reduce as a result of a directive from the Nigerian Communications Commission, however long term fundamentals remain strong and we expect no material impact for MTN.
Our credit view of this issuer reflects its leading market position and good profitability, offset by its intense competition in its mature home market of South Africa.
Our credit view of this issuer reflects its status as a successful emerging market operator with leading market positions but high exposure to sovereign risks.
Our credit view of MTN Group, reflecting its status as a successful emerging market operator with dominant market positions but exposed to sovereigns with weakening credit quality