Cell C downgraded to "default" by S&P Global

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Cell C downgraded to "default" by S&P Global

S&P Global released a report today downgrading Cell C to D (Default), while its rating of Cell C’s senior secured bonds are now rated at Default (D).

In response to the downgrade Cell C said the suspension of interest payments in July is part of the wider Cell C initiatives to improve liquidity and to restructure the company’s balance sheet.
 
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