From India Ratings and Research
Vodafone Idea announced that India Ratings and Research (Ind-Ra) has downgraded its rating on Non-Convertible Debentures of Rs. 3,500 crore of erstwhile Vodafone Mobile Services (since merged with the Company).The downgrade is on account of crystallisation of adjusted gross revenue (AGR) related liabilities, post the dismissal of the review petition by the Supreme Court. However, Supreme Court has agreed to hear the modification application filed by telecom companies next week, wherein the telcos have requested modification in the original order dated 24 October 2019, to decide upon the payment schedule for AGR liabilities and any other relief measures with DoT.
Non Convertible Debentures - IND BBB-/RWN (Revised from IND BBB/ RWN)
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