CARE upgrades rating on Vodafone Idea's long-term bank facilities and NCDs; Stock surges 8%

2 Feb 2022 , 10:45 AM

CARE Ratings Limited has upgraded Vodafone Idea Limited rating on Long Term Bank Facilities and Non-Convertible Debentures. The rating on long-term bank facilities has been upgraded from CARE B- (Credit Watch with Negative Implications) to CARE B+ (Outlook: Stable).

The rating on Non-Convertible Debentures (NCDs) has also been upgraded from CARE B- (Credit Watch with Negative Implications) to CARE B+ (Outlook: Stable).

Additionally, a new rating of CARE A4 has been assigned by CARE for Short Term Bank facilities.

At around 11.48 am, Vodafone Idea Limited was trading at Rs11.54 per piece up Rs0.85 or 7.95% on the BSE.