On Friday, S&P also affirmed MTNвЂ™s BB- long-term issuer credit rating, with a stable outlook, the company concludes.Visual Studio from Microsoft has long been the main development environment to work with the PVS-Studio analyzer. вЂњThis was supported by significant progress in upstreaming cash from our operating companies, including from Nigeria.вЂќ At the end of June 2021, MTNвЂ™s holding company leverage improved to 1.4x from 2.2x at end-December 2020,вЂќ said the company yesterday. вЂњIn line with our Ambition 2025, our medium-term guidance includes a target to achieve a leverage ratio of the holding company of less than 1.5x. MTN expects to raise over R26 billion from the IHS IPO, with the price currently estimated to be between $21 and $24 per share. This after IHS Towers was given the green light to list its ordinary shares on the New York Stock Exchange under the ticker symbol вЂњIHSвЂќ. It is expected that MTN Group, which holds 96% of MTN Uganda, will raise about R18 billion from the IPO.ДЄlso this month, IHS Towers, in which MTN held 29% of common equity as at 30 June 2021, notified its shareholders about its own IPO of 22.5 million shares. This followed the requisite approval by the Capital Markets Authority and Uganda Securities Exchange for MTN Group to sell 20% of its shareholding in MTN Uganda to the public. вЂњCentral to reducing debt is our asset realisation programme which aims to realise proceeds of more than R25 billion by 2025,вЂќ says MTN.ДЇormer CEO Rob Shuter unveiled MTNвЂ™s asset realisation programme in March 2019, in which assets that were not of long-term strategic value would be sold when market conditions were conducive.Д®arlier this month, MTN Uganda announced its intention to proceed with an initial public offering (IPO) and subsequently list on the Uganda Securities Exchange. It adds that by reducing debt, MTN has greater financial flexibility to take advantage of the attractive growth opportunities it has identified. The telecommunications company points out that the last time MTN Group had an investment grade rating was five years ago, in 2016. вЂњFaster deleveraging of our holding company balance sheet is a critical element of our Ambition 2025, and todayвЂ™s announcement is another important indicator that we are on track with the delivery of our strategy.вЂќ вЂњWe are very encouraged that our work to reduce debt has been recognised, with a move up to investment grade,вЂќ says MTN Group chief financial officer Tsholofelo Molefe in yesterdayвЂ™s statement. вЂњWe made good progress in reducing our holding company debt, which declined to R36.7 billion from R43.3 billion, and the holding company leverage reduced to 1.4x in the half.вЂќДЄccording to the telco, this was boosted by cash inflows received from its operating companies of R9.3 billion, which included R4 billion from Nigeria, as well as R1.8 billion in proceeds from the sale of its stake in Belgacom International Carrier Services. As at June last year, the companyвЂ™s net debt stood at R70.9 billion. MTN Group in August reported a strong performance for the first half of 2021 вЂ“ exceeding most medium-term targets, reducing debt, advancing digital and financial inclusion, and cutting the cost to communicate across Africa.ДЄt the time, the company reported it had reduced its debt from R43.3 billion to R36.7 billion.

MTN quits multibillion-rand Syrian operations, seeks compensationДЄccording to MTN, a standalone rating excludes S&PвЂ™s view of government influence and sovereign risk.

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