(Bloomberg) -- Cell C Ltd., South Africa's third-
biggest mobile phone company, may default on $805 million of
bonds within the next year as the company fails to generate
enough cash to pay interest, Moody's Investors Service said.
Moody's downgraded Cell C's credit rating on May 21
indicating the company was ``very close to a default,'' Craig
Jamieson, a credit analyst for Moody's in South Africa, said in
an interview in Johannesburg. The company may default ``within
the next year,'' he said. Cell C says it is confident it can
meet its repayment obligations.
Read more at Bloomberg Emerging Markets News
biggest mobile phone company, may default on $805 million of
bonds within the next year as the company fails to generate
enough cash to pay interest, Moody's Investors Service said.
Moody's downgraded Cell C's credit rating on May 21
indicating the company was ``very close to a default,'' Craig
Jamieson, a credit analyst for Moody's in South Africa, said in
an interview in Johannesburg. The company may default ``within
the next year,'' he said. Cell C says it is confident it can
meet its repayment obligations.
Read more at Bloomberg Emerging Markets News
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