We have long viewed C&W as a deteriorating credit owing to the poor operating profile; recent disclosure has confirmed our analysis. In fact the credit could further deteriorate because the business model remains questionable. Hence the company is vulnerable to a fall to high yield and will need to show superior execution for us to change our negative view, which may require a change in management.
C&W Global’s restructuring plan, announced on N
The week on Risk.net, March 10-16 2018Receive this by email