Brazilian tower and mobile infrastructure company Highline should only be able to reduce its high leverage if it accelerates its investment-cutting strategy, since no capital injection is expected from parent company DigitalBridge, Fitch says.
Highline is controlled by DigitalBridge alongside Allianz, Rosewood, IFC and Alberta Investment Management Corporation.
The agency affirmed the ‘A-(bra)’ national long-term rating of Highline and of the company’s third senior secured debenture issuance, worth R$2.3bn and maturing in 2034, and projects the group’s net debt/EBITDA ratio will stand above 7.5x in 2026, a level above the rating downgrade trigger.
Fitch forecasts capex of around R$230mn this year and R$65mn in 2027, well…