The rating action reflects Scope’s expectations of delayed deleveraging amid ongoing transactions impacting financial trajectory.

The Outlook change is driven by 4iG’s expected deleveraging and progress in integration of acquisitions.

The upgrade reflects improved competitive positioning with the acquisition of Vodafone Hungary, and slightly improved credit metrics. The rating is still constrained by execution and integration risks due to numerous acquisitions in the telecoms industry

The rating action reflects the recently announced transaction that upon completion will likely improve 4iG’s business and financial risk profiles

The rating action reflects weakened credit metrics and heightened execution and integration risk from large, mainly debt-funded acquisitions, which outweigh the positive impact on 4iG's business risk profile from the significant growth being pursued.