Vodafone Idea NCDs downgraded to BBB- by Brickwork Ratings

The downgrade is on account of considerable impact of the AGR related liability on the financial performance of the company resulting in huge losses, erosion of net worth and deterioration in the overall risk profile of the company.

Dec 05, 2019 10:12 IST India Infoline News Service

Vodafone Idea Limited
Vodafone Idea informed that Brickwork Ratings has downgraded its rating on Non-Convertible Debentures as per the rating rationale uploaded on its website on Dec 4, 2019.

The company's NCDs have been downgraded from A- to BBB- maintaining rating watch with negative implications.

As per the rating rationale published on the website, the downgrade is on account of considerable impact of the AGR related liability on the financial performance of the company resulting in huge losses, erosion of net worth and deterioration in the overall risk profile of the company.

Vodafone Idea Ltd ended at Rs7.31 down by Rs0.43 or 5.56% from its previous closing of Rs7.74 on the BSE.

The scrip opened at Rs7.63 and touched a high and low of Rs7.64 and Rs7.01 respectively. A total of 38,53,40,850 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs22,241.19cr.

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