Sunday August 9, 2020

Digicel bonds fall after Fitch rating downgrade

Fitch Ratings urges company to sell off assets or inject capital to tackle debt

Ian Guider

Markets Editor

24th November, 2019
Digicel owner Denis O‘Brien

The price of some of Digicel’s riskiest bonds fell last week following the latest credit rating downgrade of Denis O’Brien’s company.

Bonds issues that are due to mature in 2024 fell by as much as 6 per cent on Friday night following the Fitch Ratings move, which cited concerns about Digicel’s ability to refinance its massive debt burden.

The price of the bonds, which were trading at 45 cents...

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