Fitch Ratings says it has withdrawn Digicel International Finance Limited’s (DIFL) long-term foreign currency issuer default rating (IDR) due to commercial reasons.

The IDR withdrawal also applies of Digicel Group Holdings Limited (DGHL) and Digicel Limited.

Additionally, Fitch has announced that it has withdrawn the ratings for DGHL’s senior unsecured notes and subordinated notes, which were rated ‘C’/’RR4’ and ‘C’/’RR6’ respectively prior to the withdrawal.

Furthermore, Fitch has withdrawn the ratings for DIFL’s subordinated notes, unsecured notes, and secured notes and term loan B facility due 2024, which were rated ‘C’/’RR6’, ‘C’/’RR4’, and ‘C’/’RR4’ respectively. 

The IDRs of DIFL, DGHL, and Digicel Limited were rated at ‘RD’ prior to the withdrawal. These actions follow the group’s January 29th announcement of its completed consensual restructuring plan.

Digicel is a diversified telecom operator based in Jamaica with operations throughout the region, providing mobile and fixed-line services to consumers and businesses in the Caribbean.