Madrid, October 23, 2014 -- Moody's Investors Service today affirmed MTN Group Limited ("MTN" or "the Group") Baa2 local currency global scale issuer rating and A1.za national scale issuer rating while assigning a provisional (P)Baa2 rating to the proposed long-term guaranteed unsecured notes to be issued by MTN (Mauritius) Investments Limited. The proposed notes will be irrevocably and unconditionally guaranteed by its 100% parent company, MTN Group Limited, Mobile Telephone Networks Holdings Proprietary Limited, MTN International (Mauritius) Limited, MTN International Proprietary Limited, Mobile Telephone Networks Proprietary Limited and MTN Treasury limited. The rating outlook is stable.

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