Moody’s assigns Ba3 to Millicom notes

Moody’s Ratings said it assigned Millicom International Cellular SA’s planned senior unsecured global notes due 2032 a Ba3 rating.

The Ba3 rating on Millicom’s outstanding senior unsecured notes and its Ba2 corporate family rating are unchanged, the agency said.

The offering is part of Millicom's liability management and will extend the company's debt maturity profile. “The new issuance is not expected to affect the company's leverage metrics since the proceeds will be used to fully repay $200 million of indebtedness outstanding under the DNB Loans due 2026,” Moody’s said in a statement. Anything left will be used to repay debt of Millicom and its subsidiaries and for other general corporate purposes.

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