Global ratings agency Fitch says it has stopped rating telecommunications company Digicel.
In a release, Fitch says it has withdrawn its assessments of Digicel International Finance Limited's Long-Term Foreign Currency Issuer Default Rating (IDR), as well as the IDRs of Digicel Group Holdings Limited (DGHL) and Digicel Limited.
Fitch says this is due to "commercial reasons", and come after the Digicel Group's January 29 announcement of its completed consensual restructuring plan.
Digicel Group Limited, a provider of internet, cable and phone services across 30 markets, was recently taken over by its creditors after failing to meet its debt obligations.
Digicel's founder and former chairman, Denis O'Brien, became a minority owner under the restructuring and gave up the chair, but remains on the board.
Digicel had a US$4.7 billion debt at the time of the restructuring, but the deal with its creditors has cut those obligations down to US$3 billion.
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