Friday July 10, 2020

Restructuring of Digicel debt has not gone far enough, says ratings agency

Denis O’Brien’s Caribbean mobile phone company Digicel should consider fresh cash injections or it will face higher refinance costs when it looks to roll its massive $7 billion debt in under two years

Ian Guider

Markets Editor

@ianguider
30th June, 2019
Denis O’Brien first announced plans to float part of Digicel back in 2015 Picture: Fergal Phillips

Denis O’Brien’s Caribbean mobile phone company Digicel should consider fresh cash injections or it will face higher refinance costs when it looks to roll its massive $7 billion debt in under two years.

Analysts at the credit ratings agency Fitch said last week that the restructuring O’Brien carried out on the company’s debt, which extends the repayment dates by two years, has not gone far enough as it did not involve actually...

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