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Fitch upgrades Digicel units
Fitch Ratings said it upgraded Digicel Ltd.’s issuer rating to B- from CCC and unsecured notes to B-/RR4 from CCC-/RR5 and Digicel International Finance Ltd.'s issuer rating to B- from CCC+ and secured term loan and notes, unsecured notes and subordinated notes to B-/RR4 from CCC+/RR4.
The upgrades reflect the improvements to the group’s financial structure and flexibility following the reorganization and restructuring of the company's debt during 2020, Fitch said.
Concurrently, the agency affirmed Digicel Group Holdings Ltd.'s issuer rating at CCC, its senior secured notes at CCC/RR4 and its senior unsecured and subordinated notes at CC/RR6.
The outlook is stable.
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