Moody’s: Cable & Wireless view to negative

Moody’s Investors Service said it changed the outlook to negative from stable and affirmed the corporate family rating of Cable & Wireless Communications Ltd. at Ba3. At the same time, Moody’s also affirmed the ratings on the group’s senior secured debt at Ba3 and the ratings on the group’s senior unsecured debt at B2.

“The change of CWC’s outlook to negative reflects its exposure to the breadth and severity of the credit shock caused by the spread of the coronavirus outbreak,” Moody’s said in a press release.

Most of the company’s markets have large exposure to travel and tourism, the agency noted.

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