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S&P pushes MTN up to investment grade as debt shrinks

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South Africa Headlines News

Mobile telecommunications operator’s stand-alone credit profile upgraded

Ratings agency S&P has upgraded MTN’s credit rating to investment grade as Africa’s largest mobile operator continues its effort to bring down its borrowings.

As part of the mission to cut debt and also streamline its business, the company set out to raise R25bn from the sale of noncore assets.

 

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