Global Cloud Xchange (GCX), a subsidiary of Reliance Communications (RCOM), today received B2 rating affirmation from Moody’s on the heels of announcing the deployment of its Cumulous Network, a major step forward in provisioning next generation connectivity services to support digital transformation and economic growth across India and the emerging markets.
“The affirmation of GCX’s B2 rating reflects its moderate leverage position, continued revenue visibility afforded by its long-term contracts and our expectation that the company will continue to execute $65-70 million of IRU contracts in each of 2017 and 2018,” says Annalisa Di Chiara, a Moody’s Vice President and Senior Credit Officer in a press release issued by Moody’s earlier today.
“We are pleased with Moody’s assessment of GCX, which is a validation of the strategic direction and success of our key initiatives, supported by our parent company RCOM,” said Bill Barney, Co-CEO, RCOM and Chairman & CEO, GCX.
With RCOM’s massive deleveraging of its assets through a wireless merger with Aircel and a tower divestment with Brookfield, GCX is well positioned to further expand on its key initiatives and grow RCOM’s residual business in terms of revenue and EBITDA.
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