(Alliance News) - Moody's Investors Service gave African mobile phone mast operator Helios Towers PLC a B2 corporate family rating, though the score was held back due to the firm operating in "high risk sovereign environments".
The credit ratings agency said Helios Towers has a "leading market position" in the telecommunications tower business in three of the five African markets which it operates in.
A constraint to the ratings, Moody's explained was "the high risk sovereign environments where the company operates, notably the Democratic Republic of Congo, Tanzania, Ghana and the Republic of the Congo which make up 41%, 42%, 10% and 7% of revenue, respectively".
Moody's added: "The rating outlook is stable. Moody's expects that Helios Towers will continue to grow while maintaining conservative financial policies and a strong liquidity profile. The ratings further presume supportive regulatory, political and economic environments in the countries of operations."
Shares in the company closed 10% higher at 107.70 pence each in London on Friday.
By Eric Cunha; ericcunha@alliancenews.com
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Helios Towers (HTWS)