Fitch Ratings has affirmed telecom infrastructure group, Helios Towers Nigeria Limited’s (HTN) Long term Issuer Default Rating (IDR) at ‘B’ with a Stable Outlook.
HTN’s rating reflects the political and macro-economic uncertainty of the Nigerian market (Nigeria, rated ‘BB-‘/Negative) as well as the company’s revenue visibility and strong growth prospects.
HTN has managed to contain the impact of the recent weakness of the Nigerian naira (NGN) on its financial performance. Underlying EBITDA in USD is growing due to strong underlying demand, operational efficiency gains and the falling cost of diesel.
