×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Fitch upgrades MTN Group’s long-term credit ratings

Fitch upgrades MTN Group’s long-term credit ratings
Comment E-mail Print Share
First Published: Fri, Jul 04 2008. 02 56 PM IST
Updated: Fri, Jul 04 2008. 02 56 PM IST
PTI
New Delhi: Credit rating agency Fitch has upgraded its long-term ratings on South African Telcom major MTN Group, which is in exclusive talks with Anil Ambani Group firm Reliance Communications for a possible alliance.
Fitch Ratings has upgraded the national long-term rating on MTN Group to a higher level in the investment grade to ‘AA -´ from a ‘A+´ rating which referred to the grade wherein the economic situation could affect the finances.
The ratings have been upgraded along with a stable outlook, MTN said in a regulatory filing.
However, the announcement of any proposed transaction would likely result in a review of MTN’s rating, it added.
MTN shares were trading up 0.08% at 120.10 rand in the morning trade on the Johannesburg Stock Exchange.
Comment E-mail Print Share
First Published: Fri, Jul 04 2008. 02 56 PM IST
More Topics: MTN | Fitch | Ratings | Money Matters | Equities |