South Africa’s MTN has limited scope to jack up debt levels – Moody’s

 
MTN Group has limited room to increase its debt levels, rating agency Moody’s said on Monday, citing lack of dividend flow from Nigeria – its biggest market.
“Financial flexibility could be restored should MTN be able to begin repatriating dividends from its Nigerian operations, however there is uncertainty over timing,” Moody’s said.
MTN had last week posted its first ever annual loss after growth ground to a halt in its largest markets and a fine paid to the Nigerian government wiped a third off its earnings.
Describing the year ending in December as “the most challenging year in the company’s 22-year history”, the Johannesburg-listed group reported a loss of R1.4bn ($107m) in results on Thursday.