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Digicel moves closer to upgrade with asset sale

Digicel moves closer to upgrade with asset sale

October 29, 2021
Jamaica-based telco plans to pay off 2024 and 2025 bonds with $1.4 bln in proceeds from the sale of Digicel Pacific, according to Moody's

Credit Ratings Moody's Investors Service Upgrade Revision M&A Debt Telecoms Mobile Caribbean Jamaica Asia

Caribbean telecommunications company Digicel could receive a ratings upgrade as a result of an agreement to sell its subsidiary Digicel Pacific to Australia's Telstra, Moody's said in a report on Wednesday. Digicel announced earlier in the week that it had reached a deal to sell its business in the South Pacific for $1.85 billion, including a $250 million earn-out payment if Digicel Pacific meets revenues targets from 2022 to 2024.  The Jamaica-based mobile phone carrier will use $1.4 billion in

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