Credit rating upgrade

Helios Towers PLC

22 April 2024

 

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

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Media relations

Edward Bridges / Rob Mindell- FTI Consulting LLP

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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/

 

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