Altice International Shelves Plans to Sell Dominican Assets (1)

Altice International has shelved plans to sell assets in the Dominican Republic as the company continues to explore ways to cut debt.

Offers received for Altice Dominicana were too low and it doesn’t need to sell anything at a discounted value, group Treasurer Gerrit Jan Bakker said on a call discussing first quarter results on Tuesday.

Altice International is one of three silos of billionaire Patrick Drahi’s heavily indebted telecommunications empire, and it has assets in Portugal, Israel and the Dominican Republic.

S&P Global Ratings downgraded the company’s credit rating this month one notch to B-, six steps into ...