Ratings agency Fitch has downgraded Digicel Group Holdings and its subsidiaries. The Long-Term Issuer Default Rating of Digicel Group Holdings has been changed from CCC to CCC-. The credit rating for Digicel Limited is now CCC-, down from CCC+ and for Digicel International Finance CCC+, down from B-. Fitch says the downgrade reflects the high refinancing risk of Digicel’s US$925 million unsecured notes maturing in March 2023, due to challenging market conditions. Limited cash flow from Digicel International Finance was also a consideration in the downgrades of Digicel Limited and Digicel Group Holdings.