Moody’s downgrades Digicel

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The Irish Times reports that business ratings agency Moody’s has downgraded Digicel and changed its outlook for the telecommunications company to negative.

According to Moody’s, “the risk of Digicel making another distressed exchange or debt restructuring within the next 12-18 months has increased, considering the still weak operating results and liquidity of the group.”

“The group,” the Irish Times reports, “is now more than two years into a transformation programme, initially known as Project Swan and officially named Digicel 2030 Global Transformation upon its launch early in 2017.”

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