S&P puts Cell C debt on B rating with CreditWatch negative

Tuesday 2 June 2015 | 11:18 CET | News
South African operator Cell C needs to secure funding to address a 01 July unsecured debt maturity of about ZAR 2 billion. Standard & Poor's Ratings Services said that the company continues to generate negative free operating cash flow and has placed Cell C on 'B'-'long-term rating with a CreditWatch negative, Businesstech reported. S&P believes currently funded sources of liquidity do not cover the maturity. Cell C is not listed publicly, and therefore is not obliged to report its financial status.

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