Moody's drops WOM Mobile to Ca

Moody's Ratings said it downgraded WOM Mobile SA’s and its subsidiaries' corporate family rating to Ca from Caa3. The agency also lowered Kenbourne Invest SA’s 2024 and 2028 backed senior unsecured notes ratings were downgraded to Ca from Caa3.

The outlook remains negative.

The downgrades follow WOM filing for protection under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. Moody’s warned losses to unsecured investors could top 50%.

All WOM's ratings will be withdrawn, Moody’s said.

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