2023-05-22 16:41:11
A few days ago, financial information linked to VTRwhich in October of last year merged with Claro.
Prior to this, the company was controlled by Liberty Latin America (LLA), which was blunt in indicating that, compared to the numbers it reported, he had “substantial doubts” that the business would continue to thrive.
Last year the losses amounted to US$519 million and revenues, meanwhile, were US$628 million (-17% compared to 2021).
Broadband customers as of December 2022 were 1,119,500, cable TV 920,700, fixed telephony 467,000 and mobile telephony 355,400.
Nevertheless, VTR lost 310 thousand contracts compared to 2021.
Analysts, for their part, anticipate that the telecommunications company may breach its commitments given these results, which are even “more pessimistic” than those estimated.
The middle “Management” stated emphatically that he was going “heading for default in Chile if it does not obtain fresh capital”.
That default, according to Ray Zucaro, investment manager at RVX Asset Management, could happen “as soon as the next coupon payment date,” he said, quoted by Diario Financiero.
The deadline would be mid-July.
Fitch Ratings, for its part, remarked that VTR continues to lose subscribers and that, in addition, VTR Finance your credit rating was cut (from B- to CCC-).
According to the aforementioned media, the price of VTR Finance by 2028 went from 32 cents to 13 cents per dollar.
Last year that price was at 105 cents.
And despite all this, the company announced an investment last week of close to US$320 million. in its data center located in Liray, Colina.
“The new infrastructure has state-of-the-art technology and the highest sustainability certifications, fulfilling a key role in the digitization of companies and public services in Chile,” it said in an announcement.
At the moment, VTR has not commented on the scenario it is facing.
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