Fitch Withdraws Rating on MIC Africa's Proposed Notes
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Fitch Ratings has withdrawn its rating on MIC Africa BV's proposed USD510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
Corporate Rating Methodology
Rating Telecom Companies
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