MONTERREY, Mexico--(BUSINESS WIRE)--Fitch Ratings has withdrawn its rating on MIC Africa BV's proposed USD510 million senior notes due 2020 as the company is no longer going to issue the notes.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.
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
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=685552
Corporate Rating Methodology
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=684460
Rating Telecom Companies
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=682323
Additional Disclosure
Solicitation Status
http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=788781
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