S&P affirms Helios Towers Africa

S&P said it affirmed its B long-term issuer credit ratings on Helios Towers Africa Ltd. and HTA Group Ltd.

The outlook is stable.

The agency also affirmed the B issue rating on the $600 million senior notes.

S&P said the affirmation balances an expectation of significantly improving credit metrics from 2018 with a more negative view on the Tanzanian operating environment.

“We predict Helios Towers will deleverage considerably and improve its free cash flow levels due to expected EBITDA growth, and the absence of large tower acquisitions and dividend payments over the next two-to-three years,” the agency said in a news release.

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