Digicel may need more debt restructuring, say agencies
Both Fitch and Moody’s, in fresh ratings comments on the company’s recent $600 million loan refinancing, said Digicel needs to see a turnaround in its business or further moves will be required to bring down its debt levels.
Digicel, the Caribbean mobile phone network owned by Denis O’Brien, could require further debt restructuring, according to ratings agencies.
Both Fitch and Moody’s, in fresh ratings comments on the company’s recent $600 million loan refinancing, said Digicel needs to see a turnaround in its business or further moves will be required to bring down its debt levels.
Fitch said Digicel’s liquidity is under pressure by persistently negative free cashflow and that its operational ...
