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Provider: Reuters Investment Profile
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Provider: Wright Reports
Provider: Directors Deals Ltd.

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Wendel SA Upgraded to BB+ by Standard & Poor's; Invests in IHS

Thursday, 29 Aug 2013 01:45am EDT 

Wendel SA announced that on April 24, 2013, Standard & Poor`s upgraded its credit rating for Wendel from "BB" to "BB+", with a stable outlook. This decision was motivated by the decline in Wendel SA's loan-to-value ratio and by the overall improvement in Wendel SA's risk profile. The Company also announced that it has made its first investment in Africa via Oranje-Nassau Developpement, taking a stake in IHS Holding, leader in telecom tower infrastructure in Africa. As of July 24, 2013, Wendel SA had invested USD 276 million, i.e. more than the initial USD 125 million. This amount will enable IHS to step up its development, in particular through the construction of additional towers in Nigeria. With more than 35% of IHS`s capital, Wendel SA is now IHS`s main shareholder and has three seats on the company`s Board of Directors. 

Company Quote

2.25 +1.97%
11:35am EDT