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Wireless

Cell C debt downgraded to 'default' by S&P

Friday 23 August 2019 | 10:05 CET | News
S&P Global has downgraded South African operator Cell C's debt to 'D' or 'default', its lowest possible junk rating, after the mobile operator "failed to make interest payments on certain bilateral loan facilities" due in July. The company has struggled to make consistent profits since it became South Africa's third mobile operator in 2001 and is grappling with a hefty debt burden. 

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Categories: Mobile & Wireless
Companies: Cell C
Countries: South Africa
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