Moody's gives Digicel negative rating

Ratings agency Moody's has downgraded telecommunications firm Digicel and changed its outlook for the company to negative.
The agency said the decision to downgrade its rating of the group reflected its view that 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.
It said the company has continued to report declining earnings, negative free cash flow and increasing leverage. 

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