From CARE Ratings
Vodafone Idea announced that CARE Ratings has downgraded its rating on Long Term Bank Facilities and Non-Convertible Debentures to CARE BB-(credit watch with negative implications).As per the rating rationale published on the website, the downgrade inter-alia, is on account of significant erosion in the overall risk profile of the company while taking into cognizance of the financial impact of no relief being granted on modification plea on 14 February 2020 of telecom companies (telcos) seeking new schedule of Adjusted Gross Revenues (AGR) dues by Hon'ble Supreme Court and significant losses to the tune of Rs 6,453 crores in Q3FY20.
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