| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers D > Headlines for Digicel Group Ltd. > News item |
Fitch lowers Digicel Group to RD
Fitch Ratings said it downgraded the long-term issuer default rating on Digicel Group Ltd. to RD (restricted default) from C, following the completion of the group's debt exchange.
No actions were taken on the 2020 and 2022 notes, which remain at C.
Fitch said it has not taken any actions on Digicel Ltd. or Digicel International Finance Ltd.
On Jan. 10, Digicel Group announced that it had received tender offers for 97.9% of the 8¼% notes due 2020 and 97.9% of the 7 1/8% notes due 2022.
The agency said the RD rating will be re-rated to reflect the appropriate issuer default rating for the issuer's post-exchange capital structure, risk profile and prospects in accordance with relevant criteria.
Fitch said that at the same time as the new issuer default rating is assigned, all related issue ratings may be adjusted, including those that were not part of the exchange.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.