Weakest links become weaker
Telewest and KPNQwest are the latest companies to appear on S&P’s ‘weakest link’ survey. A debt restructuring looks on the cards for Telewest but a solution to KPNQwest’s plight is more complex.
As of April, the 49 issuers that make up S&P’s list – those rated CCC or lower and on credit watch negative or negative outlook – had $24 billion of debt outstanding between them. UK telco Telewest’s three-notch downgrade to CCC- has
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