Digicel’s restructuring negotiations are trundling on. Last March, it looked like Denis O’Brien was finally poised to lose control of Digicel. In a statement, it was confirmed that bondholders would be taking the majority of the equity in Digicel in exchange for a reduction of the company’s debt of $1.8 billion, from its current level of $4.5 billion. The deal was agreed by more than 50 per cent of bondholders, and signed off by O’Brien. This week Fitch downgraded its debt to RD or restricted default. RD means the credit “has experienced an uncured payment default or distressed debt exchange…

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