S&P: Helios Towers Nigeria loans, notes B

Standard & Poor's said it assigned its B long-term corporate credit rating to Helios Towers Nigeria Ltd.

The outlook is stable.

At the same time, the agency assigned its B issue ratings to Helios' $20 million senior secured revolving credit facility and $250 million senior unsecured bonds. The senior unsecured bonds are issued by Helios Towers Finance Netherlands BV (a special purpose entity subsidiary) and guaranteed on a senior unsecured basis by Helios Towers Nigeria and its subsidiary Tower Infrastructure Co. Ltd.

S&P said the rating reflects its assessment of Helios Towers Nigeria’s business risk profile as "fair" and its financial risk profile as "highly leveraged," as criteria define the terms.

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