Moody's: Millicom to positive

Moody's Investors Service said it changed the outlook on Millicom International Cellular SA's Ba1 corporate family rating to positive from stable.

The positive outlook reflects the group's continuing track record of strong growth and operating performance, along with the good visibility for future organic growth, Moody's said.

Financial metrics for the group remain solid within the Ba1 rating category and the agency said it expects the group to continue to balance shareholder remuneration and selective business acquisitions at the lower end of its publicly stated targets of 1.0x to 2.0x leverage.

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