Moody’s trims Digicel Group

Moody’s Investors Service said it downgraded Digicel Group Ltd.'s probability of default rating to Caa3-PD from Caa2-PD.

At the same time, Moody's downgraded the senior secured rating of Digicel International Finance Ltd. to Caa1 from B3.

All other ratings within the group are unchanged.

The outlook is negative.

“The downgrade of Digicel's PDR to Caa3-PD recognizes the higher likelihood of another default by Digicel in the near term, either in the form of a distressed exchange or through the non-payment of interests after the grace-period end,” the agency said in a news release.

© 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.