MTN credit rankings go down

THE  Standard & Poor’s had lowered the group’s credit ratings in the wake of its September 16 downgrade of Nigeria’s sovereign rating,” says MTN today (Monday)

“The sovereign downgrade reflects increased risk for MTN Group as MTN Nigeria is a significant contributor to the group,” MTN says.

The Nigerian senate is accusing  MTN Nigeria of  illegally repatriated US$13.92 billion out of Nigeria over a period of 10 years in collusion with a number of commercial banks.

MTN Group released a statement, last Wednesday, denying the allegations. – Patience Rusere