Digicel turns to growth with Trinidad fibre expansion among priorities

Digicel is shifting its focus from financial restructuring to investment and growth, with Trinidad and Tobago among the Caribbean markets earmarked for further spending, group chairman Rajeev Suri told the Sunday Business Guardian. The group's priorities include fibre broadband, services for businesses and digital products. For Trinidad and Tobago, Suri highlighted network quality and fibre expansion, pointing to a TT$20 million network investment and a South Trinidad fibre rollout as part of the company's commitment to improving connectivity and customer experience. The strategy follows a period in which Digicel's finances threatened its survival. The Guardian reported that the group faced an estimated US$7 billion debt burden in 2023 and underwent restructurings to avoid insolvency. The process included proceedings through Bermuda's courts and an application for recognition under Chapter 15 of the US Bankruptcy Code. Suri became chairman in February 2024 following completion of the restructuring. He said management's concerns had since moved beyond immediate liquidity and cash flow towards longer-term investment decisions. Digicel completed a refinancing in 2025 that extended debt maturities to 2032 and added a US$200 million revolving credit facility. In April 2026, it voluntarily repaid US$100 million of debt. Suri also pointed to a lower interest rate on the group's approximately US$648 million term loan as evidence of improving financial conditions. Moody's upgraded Digicel Group's corporate family rating from B2 to B1 with a stable outlook in June 2026, according to the Guardian. Suri presented the refinancing, debt repayment and rating improvement as signs that the turnaround was taking hold. As the company pursues growth, he identified affordability as a major consideration in Caribbean markets. He described connectivity as an essential part of daily life and said dependable networks underpin the business as demand for broadband and digital services increases. Maintaining those networks requires substantial investment, he acknowledged. Hurricane damage can disrupt infrastructure and services, while differences in digital adoption across markets present another challenge. Digicel must balance that spending with keeping services affordable. The group is targeting demand for fibre, postpaid mobile subscriptions, cloud services and cybersecurity products. Suri expects services for businesses to become a more significant contributor to growth, while stressing the need to choose investments selectively. That approach also extends to Digicel's geographic footprint. The group announced an agreement in September involving the sale of its El Salvador operations to General International Telecom. Suri said the decision would concentrate resources in markets offering stronger long-term opportunities, describing El Salvador as a crowded market requiring consolidation.