Fitch Withdraws Rating on MIC Africa's Proposed Notes

Wed Apr 17, 2013 11:19am EDT

(The following statement was released by the rating agency) MONTERREY, April 17 (Fitch) Fitch Ratings has withdrawn its rating on MIC Africa BV's proposed USD510 million senior notes due 2020 as the company is no longer going to issue the notes.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. Contact: Primary Analyst Sergio Rodriguez, CFA Senior Director +52 (81) 8399-9100 Fitch Mexico S.A. de C.V. Prol. Alfonso Reyes 2612 Monterrey, Mexico Secondary Analyst Owen Fenton Associate Director +44 (0) 20 3530 1423 Tertiary Analyst Michael Dunning Managing Director +44 (0) 20 3530 1178 Committee Chairperson Alberto Moreno Senior Director +52 (81) 8399-9100 Media Relations: Elizabeth Fogerty, New York, Tel: +1 (212) 908 0526, Email: elizabeth.fogerty@fitchratings.com. Additional information is available 'www.fitchratings.com'. 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. Applicable Criteria and Related Research Parent and Subsidiary Rating Linkage here Corporate Rating Methodology here Rating Telecom Companies here Additional Disclosure Solicitation Status here ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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