Fitch Withdraws Rating on MIC Africa's Proposed Notes

  Fitch Withdraws Rating on MIC Africa's Proposed Notes

Business Wire

MONTERREY, Mexico -- April 17, 2013

Fitch Ratings has withdrawn its rating on MIC Africa BV's proposed USD510
million senior notes due 2020 as the company is no longer going to issue the
notes. It is likely that the proposed notes will be funded at the holding
company level, Millicom International Cellular S.A. (MIC), at some point in
the future. Fitch originally assigned a 'BB+(exp)' rating to the proposed
issuance and will continue providing analytical coverage for MIC. Fitch
currently rates MIC with local and foreign currency Issuer Default Ratings
(IDRs) at 'BB+', with a Stable Rating Outlook.

Additional information is available 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Rating Telecoms Companies', Aug. 9, 2012;

--'Corporate Rating Methodology', Aug. 8, 2012;

--'Parent and Subsidiary Rating Linkage (Fitch's Approach to Rating Entities
Within a Corporate Group Structure)', Aug. 10, 2012.

Applicable Criteria and Related Research

Parent and Subsidiary Rating Linkage

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=685552

Corporate Rating Methodology

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=684460

Rating Telecom Companies

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=682323

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=788781

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ON THE FITCH WEBSITE.

Contact:

Fitch Ratings
Primary Analyst
Sergio Rodriguez, CFA, +52 (81) 8399-9100
Senior Director
Fitch Mexico S.A. de C.V.
Prol. Alfonso Reyes 2612
Monterrey, Mexico
or
Secondary Analyst
Owen Fenton, +44 (0) 20 3530 1423
Associate Director
or
Tertiary Analyst
Michael Dunning, +44 (0) 20 3530 1178
Managing Director
or
Committee Chairperson
Alberto Moreno, +52 (81) 8399-9100
Senior Director
or
Media Relations
Elizabeth Fogerty, New York, +1-212-908-0526
elizabeth.fogerty@fitchratings.com