MUMBAI (Thomson Financial) - Fitch Ratings upgraded South Africa-based MTN
Group Ltd's national long-term rating to 'AA-(zaf)' from 'A+(zaf)' with a stable
outlook, reflecting MTN's position as a leading emerging market mobile
tele-communications player following considerable operational growth and its
proven ability to operate successfully in challenging environments.
Fitch said the rating is supported by strong cash flow generation, low
leverage and strong liquidity position of MTN in South Africa, and also takes
into account the high country risk with respect to many of the 21 countries in
which MTN operates.
In many of these countries, the economic, regulatory and political
environments are often fragile, commensurate with an emerging market profile.
TFN.newsdesk@thomson.com
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