REG - Helios Towers PLC - Credit rating upgrade

Helios TowersAnnouncement

22/04/2024 07:00

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RNS Number : 3923L  Helios Towers PLC  22 April 2024

HELIOS TOWERS plc

 

Credit rating upgrade

 

London, 22 April 2024: Helios Towers plc ("Helios Towers" or "the Company"),
the independent telecommunications infrastructure company, is pleased to
announce Moody's Investors Service ("Moody's") has upgraded the Company's
long-term corporate family rating from B2 to B1 with a stable outlook.

 

The rating on Helios Towers' 7.000% Senior Notes due 2025 was also upgraded as
part of the rating action to B1.

 

The positive rating action reflects Moody's view that Helios Towers credit
profile has sustainably improved, following the company's successful
deleveraging in 2023 and improved free cash flow outlook from 2024. In
addition, the ratings action has been supported by the Company's track record
of strong organic growth in dollar terms, demonstrating its effective
mitigations from local currency depreciation, and an improved sovereign
profile. The improved sovereign profile reflects acquisitions into higher
rated markets such as Oman, and improved credit profiles in its largest two
markets, Tanzania and DRC.

 

Moody's upgrade marks the second major credit rating agency to assign a
B1-equivalent rating to Helios Towers, following Fitch's B+ rating assigned in
July 2022.

Moody's rating action is available at
https://ratings.moodys.com/ratings-news/419130
(https://ratings.moodys.com/ratings-news/419130)

Investor Relations

Chris Baker-Sams - Head of Strategic Finance and Investor Relations

investorrelations@heliostowers.com

+44 (0)782 511 2288

 

Media relations

Edward Bridges / Rob Mindell- FTI Consulting LLP

+44 (0)20 3727 1000

 

 

 

About Helios Towers

·      Helios Towers is a leading independent telecommunications
infrastructure company, having established one of the most extensive tower
portfolios across Africa and the Middle East. It builds, owns and operates
telecom passive infrastructure, providing services to mobile network
operators.

·    Helios Towers owns and operates over 14,000 telecommunication tower
sites in nine countries across Africa and the Middle East.

·    Helios Towers pioneered the model in Africa of buying towers that
were held by single operators and providing services utilising the tower
infrastructure to the seller and other operators. This allows wireless
operators to outsource non-core tower-related activities, enabling them to
focus their capital and managerial resources on providing higher quality
services more cost-effectively.

 

For more information about Helios Towers, please visit:
https://www.heliostowers.com/investors/
(https://www.heliostowers.com/investors/)

 

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