October 29, 2021
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
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