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March 26, 2008 |
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DIGICEL GROUP: Computerized Credit Network Collapses The computerized credit network of Digicel Group's Jamaican unit has collapsed due to an overload caused by eager clients trying to capitalize on a discount program that offered bonus call credit on the weekend, Shelly-Ann Thompson at The Jamaica Gleaner reports. The Gleaner relates that many clients were unable to add credit to their phones on the Easter weekend due to the network crash. Digicel's Chief Executive Officer David Hall told The Gleaner that the firm was working to solve the problem by upgrading the capacity of the system. Clients could still add credit to their phones using the electronic top-up methods like Web Flex and Direct Flex, The Gleaner says, citing Mr. Hall. Digicel will launch another bonus-credit promotion this week to compensate clients for the inconvenience, Mr. Hall told The Gleaner. Digicel Ltd. is a wireless services provider in the Caribbean region founded in 2000, and controlled by Denis O'Brien. The company started operations in Jamaica in April 2001 and now offers GSM mobile services in Caribbean countries including Jamaica, St. Lucia, St. Vincent, Aruba, Grenada, Barbados, Bermuda, Cayman, and Curacao among others. Digicel finished FY2005 with 1.722 million total subscribers -- 97% pre-paid -- estimated market share of 67% and revenues and EBITDA of US$478 million and US$155 million, respectively. * * * As reported in the Troubled Company Reporter-Latin America on Feb. 20, 2007, Fitch Ratings Service assigned 'CCC+/RR5' rating on Digicel Group Ltd.'s proposed US$1.4 billion senior subordinated notes due 2015. Digicel Ltd. is a wireless services provider in the Caribbean region founded in 2000, and controlled by Denis O'Brien. The company started operations in Jamaica in April 2001 and now offers GSM mobile services in Caribbean countries including Jamaica, St. Lucia, St. Vincent, Aruba, Grenada, Barbados, Bermuda, Cayman, and Curacao among others. Digicel finished FY2005 with 1.722 million total subscribers -- 97% pre-paid -- estimated market share of 67% and revenues and EBITDA of US$478 million and US$155 million, respectively. * * * In February 2007, Moody's Investors Service affirmed Caa2 senior unsecured rating to Digicel Group Limited's US$1.4 billion senior unsecured notes offering. |
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