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Home»Brands & Marketing»Agusto & Co. Assigns “Aa+” Rating To MTN Nigeria Communications Plc.
Brands & Marketing

Agusto & Co. Assigns “Aa+” Rating To MTN Nigeria Communications Plc.

By Orientalnews StaffJune 29, 2019No Comments2 Mins Read
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Image result for Agusto & Co. Assigns “Aa+” Rating To MTN Nigeria Communications Plc.

Yemisi Izuora 

Nigeria’s first credit Rating Agency and a pan African leader in credit reports, Agusto & Co. limited has assigned an  Aa+” rating to MTN Nigeria Communications Plc.

The rating assigned to MTN Nigeria Communications Plc. is hinged on the Company’s very strong financial condition, which is characterized, by very good profitability, strong cash flow, low leverage and experienced and stable management team. The rating takes into cognisance MTN’s market leadership, its extensive network coverage and growing voice subscribers as well as active data users. 

The rating agency, however, noted that MTN Nigeria is prone to regulatory interference, which has led to volatility in its profitability in recent years.

MTN Nigeria is a member of the MTN Group – Africa’s leading cellular telecommunications company with strong presence in 21 countries and over 237 million subscribers.

 MTN Nigeria Communications Plc. is the largest mobile operator in Nigeria, with over 60 million subscribers and 20.3 million active data users, controlling about 42 per cent  of the Nigerian telecommunications industry’s subscribers1. 

In May 2019, MTN became a public limited liability company following its listing by introduction of 20,354,513,050 ordinary shares of ₦0.02 each on the Nigerian Stock Exchange to comply with regulatory requirements.

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Orientalnews Staff

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