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
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/