Moody's affirms Axiata

Moody's Investors Service said it affirmed the Baa2 rating for the 10-year 5.375%, $300 million senior unsecured notes issued by Axiata SPV1 (Labuan) Ltd. and unconditionally guaranteed by its parent, Axiata Group Bhd. The rating has been removed from its provisional status following the completion of the bond issue.

The outlook is stable.

The note proceeds will be utilized to refinance borrowings of S$240 million and for general corporate purposes.

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