Netceed Loans Plunge as Firm Grapples With Dropping Revenues (1)

The term loans of France-based telecom provider Netceed dropped by around 20 cents this week as the company grapples with operational underperformance and tight liquidity.

• The loans were quoted in the high 40s on Thursday, down from 67, said people familiar with the matter, who spoke on condition of anonymity
  • A spokesperson for Netceed didn’t immediately respond to a request for comment
• The company, which is a key supplier of Altice, has around $1.2 billion equivalent of debt, issued to fund its buyout by Cinven in 2022
• S&P downgraded Netceed to CCC+ in December; the ratings firm forecast a like-for-like ...