Vodafone Idea informed that Care Ratings Limited (CARE) downgraded its rating on Long-Term Bank Facilities and Non-Convertible Debentures.
As per the rating rationale published on CARE's website, the downgrade inter-alia, is on account of recent Supreme Court ruling dated October 24, 2019 on the AGR matter and also extension of the Long Stop Date from October 24, 2019 to December 24, 2019 for the sale of Indus Tower stake to Bharti lnfratel.
Long-Term Bank Facilities of the company were downgraded from CARE A- to CARE A- (Credit Watch with Negative Implications)
Similarly, Non-Convertible Debentures were downgraded from CARE A- to CARE A- (Credit Watch with Negative Implications).Vodafone Idea informed that Care Ratings Limited (CARE) downgraded its rating on Long-Term Bank Facilities and Non-Convertible Debentures.
As per the rating rationale published on CARE's website, the downgrade inter-alia, is on account of recent Supreme Court ruling dated October 24, 2019 on the AGR matter and also extension of the Long Stop Date from October 24, 2019 to December 24, 2019 for the sale of Indus Tower stake to Bharti lnfratel.
Long-Term Bank Facilities of the company were downgraded from CARE A- to CARE A- (Credit Watch with Negative Implications)
Similarly, Non-Convertible Debentures were downgraded from CARE A- to CARE A- (Credit Watch with Negative Implications).
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