AXIAN Telecom Holding and Management Plc, the parent company of a leading pan-African telecom group (Yas), is pleased to announce that S&P Global Ratings has affirmed its long-term issuer credit rating and senior unsecured debt rating at B+ and revised the outlook from negative to stable.

The rating affirmation follows S&P’s decision to affirm the sovereign ratings of Madagascar and reflects easing near-term risks and stabilising macroeconomic conditions in key markets. Madagascar and Tanzania each contribute approximately 35% of the Group’s EBITDA.