Fitch, Moody's downgrade Liquid Telecom's credit rating; Nic Rudnick leaves

[Jan]

Massive problems at Liquid Telecom

Fitch and Moody's have downgraded Liquid Telecom's credit rating as the company nears a breach of its debt covenants.

The company has also informed staff that former CEO Nic Rudnick is leaving. Rudnick was Liquid Group CEO for eighteen years. Most recently, he served as deputy executive chairman since September 2022.

 

[Jan]

Liquid's R4-billion funding plan

A US development agency will be one of the main investors as African fiber company Liquid Telecoms seeks to raise $225 million (R4 billion) in equity by the end of the year, chief executive officer Hardy Pemhiwa told Bloomberg news.

The International Development Finance Corporation (DFC) will be one of the biggest participants in a $90-million (R1.6 billion) tranche in the next few weeks, while Liquid plans a second round later in the year, he reaffirmed.

[With Bloomberg]

 

[Went_For_Beer]

2 weeks and not 1 comment, no one cares

 

[Jan]

Nah, the people who care just can't say anything in public.

 

[HartsockZA]

Pipe dream... and honestly there's potential but maan the politics