Rating Release
Agusto & Co. hereby affirms the “Aa+” rating assigned to MTN Nigeria Communications Plc’s MTN Nigeria Communications Plc’s ₦89.99 Billion 10-Year Series II Bond Due 2031
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”) ₦89.99 Billion 10-Year 12.75% Fixed Rate Senior Unsecured Series II Bond Due 2031 (“Series II Bond”, “the Issue” or “the Bond”) under its ₦200 Billion Bond Issuance Programme. The assigned Issue rating mirrors the standalone rating of the Issuer, given that the Series II Bond obligations (coupon payment and principal redemption) are redeemed from the Company’s operating cash flow. MTN Nigeria Communications Plc has an “Aa+” rating with Agusto & Co, expiring 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.
