Rating Release
Agusto & Co. hereby affirms the “Aa+” rating assigned to MTN Nigeria Communications Plc’s MTN Nigeria Communications Plc’s ₦10 Billion Series 1 Bonds Due 2026 and ₦104.9 Billion Series 1 Bonds
The rating expires on 30 September 2024.
Agusto & Co. hereby affirms the “Aa+” rating assigned to MTN Nigeria Communications Plc’s (“MTN Nigeria”, “MTN”, the “Issuer” or “the Company”) ₦10,085,600,000 4-Year 13.5% Senior Unsecured Fixed Rate Series 1 Bonds Due 2026 (Tranche A) and ₦104,914,400,000 10-Year 14.5% Senior Unsecured Fixed Rate Series 1 Bonds Due 2032 (Tranche B) under its ₦200 Billion Bond Issuance Programme. The assigned Issue rating mirrors the standalone rating of the Issuer, as the payment of the Series 1 Tranches A and B Bond obligations (coupon payment and principal redemption) are fully backed by MTN’s operating cash flow (OCF). MTN Nigeria Communications Plc has an “Aa+” rating with Agusto & Co, which will expire on 30 June 2024.
The opinions expressed in this rating release do not represent any investment or other advice and should therefore not be construed as such. Visit www.agusto.com for further information.
