Telecoms group Digicel, owned by tycoon Denis O’Brien, will have to restructure its €6.3 billion debt pile over the next 18 months as it faces an “imminent refinancing risk” according to ratings agency Fitch.
On Wednesday, Fitch lowered its rating on the company to CC, plunging Digicel’s creditworthiness deeper into ‘junk’ status and implying the ratings agency believed a “default of some kind appears probable” at Digicel....
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