Moody’s: Digicel will default if it pushes ahead with plan

Moody’s: Digicel will default if it pushes ahead with plan

Digicel last week said it wanted to exchange some $3 billion (€2.6 billion) of debt that it needs to repay in the next couple of years with new bonds, to give it time to implement a turnaround strategy

Digicel, the Denis O’Brien-owned mobile phone company, will be in default on its debts if it completes a plan to extend the repayment dates on some of its billions of euro of borrowings, according to the top credit ratings agency Moody’s.

Digicel last week said it wanted to exchange some $3 billion (€2.6 billion) of debt that it needs to repay in the next couple of years with new bonds, to give it...

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