By Reuters
Fitch Ratings says that although Pacnet Limited's (Pacnet, B/Stable) EBITDA has improved in the past four quarters, its ratings remain constrained by low profitability, a weak balance sheet and strong competition from better-capitalised market participants. The successful rollout and rapid take-up of its new data centre capacity are important to Pacnet's long-term strategy and could drive improvement in credit metrics, which would lead to a positive rating action.
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