Fitch upgrades MTN Group's credit ratings

Fitch Ratings has upgraded the national long-term rating on MTN Group to a higher level in the investment grade to 'AA -' from  a 'A+' rating which referred to the grade wherein the economic situation could affect the finances.     

The ratings have been upgraded along with a stable outlook, MTN said in a regulatory filing.     

However, the announcement of any proposed transaction would likely result in a review of MTN's rating, it added.     

MTN shares were trading  up 0.08 per cent at 120.10 rand in the morning trade on the Johannesburg Stock Exchange.