Axiata’s Baa2 Rating Affirmed by Moody’s; Stable Outlook

Moody’s Investor Services (Moody’s) has affirmed Axiata Group’s (Axiata) Baa2 issuer rating with a Stable Outlook. The affirmation also includes the Baa2 senior unsecured rating on Axiata’s existing USD 500 million Sukuk notes, as well as the provisional (P)Baa2 rating of the Group’s wholly-owned Axiata SPV2’s Sukuk issuance programme.

Concurrently, the ratings agency has also assigned a Baa2 rating to the proposed USD 500 million drawdown of Axiata SPV2’s Sukuk issuance programme, as well as a provisional (P)Baa2 rating to Axiata SPV5’s EUR 1.5 billion medium-term note programme. Both programmes will be used to refinance Axiata’s existing debt, with the remaining al...