Is Cell C going down hill?

ADSL South Africa (Broadband South Africa), 10 December 2007

One can’t help to ask the above question because something is definitely not right at Cell C, especially after the latest downgrading of the company’s credit rating by Standard & Poor.

‘Ratings agency Standard & Poor’s has, for the second time this year, downgraded Cell C’s credit rating in a further vote of no confidence in SA’s third cellphone network operator. On Friday S&P said it had lowered its long-term corporate credit rating on Cell C to B- from B, and gave it a negative outlook’ (Cell C’s rating slips further, Business Times, 9 December 2007).

In other words, it is clear that things don’t look very rosy for Cell C if one let the ratings do the talking.

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