Digicel under pressure from Moody’s to cut debt levels

Outlook changed from stable to negative over high level of borrowings

Digicel rebuilding its Dominica services after hurricane. Pic: Getty

Digicel, Denis O’Brien’s Caribbean mobile empire, has come under pressure from a credit ratings agency over its attempts to bring down debt levels ahead of significant repayments due over the next couple of years.

The company has been struggling to turn around its performance with revenue and earnings growth stalling. According to a new report by credit ratings agency Moody’s, Digicel’s attempt to revitalise growth through changing its product tariffs to boost usage ...