MTN Nigeria’s Credit Rating Upgrade: CEO Karl Toriola Says It’s Planning to Invest $1.7bn in 3 Years

MTN Nigeria CEO Karl Toriola

MTN Nigeria CEO Karl Toriola joined the Global Business Report to speak on the recent upgrade of the company’s Global Credit Rating, among other topics.

Nigeria’s largest telecommunications company by subscribers announced that the GCR upgraded the national scale long-term rating of the recently concluded N110 billion Series 1 Senior Unsecured Bond to AAA with a stable outlook.

Toriola says the upgrade is a reflection of strong cash generation opportunities, strong competitive position, minimal risk in business, good governance and a strong management team.

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Toriola continues that the upgrade gives MTN Nigeria the ability to raise capital at a lower rate because of a lower risk premium.

Source: Arise

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