[April 23, 2013] Fitch Removes Rating on MIC Africa's Proposed Notes Tweet Apr 23, 2013 (Close-Up Media via COMTEX) -- Fitch Ratings has withdrawn its rating on MIC Africa BV's proposed USD510 million senior notes due 2020 as the company is no longer going to issue the notes. It is likely that the proposed notes will be funded at the holding company level, Millicom International Cellular S.A. (MIC), at some point in the future. Fitch originally assigned a 'BB+(exp)' rating to the proposed issuance and will continue providing analytical coverage for MIC. Fitch currently rates MIC with local and foreign currency Issuer Default Ratings (IDRs) at 'BB+', with a Stable Rating Outlook. Applicable Criteria and Related Research: --'Rating Telecoms Companies', Aug. 9, 2012; --'Corporate Rating Methodology', Aug. 8, 2012; --'Parent and Subsidiary Rating Linkage (Fitch's Approach to Rating Entities Within a Corporate Group Structure)', Aug. 10, 2012. More Information: www.fitchratings.com http://fitchratings.com/creditdesk/reports/report_frame.cfm rpt_id=682323 ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]