Signals, Powered By EquityPandit
Vodafone Idea announced that CRISIL, a global analytical and risk rating company, has downgraded the rating on non-convertible debentures and has reaffirmed its rating on commercial paper of erstwhile Vodafone Mobile Services on yesterday, i.e, 29/11/2018.
Vodafone Idea in a BSE filing said, “CRISIL vide its communication uploaded on its website today, has downgraded its rating on non-convertible debentures of Rs 6,000 crore and has re-affirmed its rating on CP Programme of Rs 2,000 crore of erstwhile Vodafone Mobile Services Limited (VMSL), which has since been migrated to Vodafone Idea Limited (the Company) pursuant to amalgamation of VMSL with the Company.”
As per the statement released, the rating of Non-Convertible Debentures has been downgraded to CRISIL A+ (Negative Outlook) from existing CRISIL AA- (Negative Outlook). The rating for the commercial paper programme has been re-affirmed at CRISIL A1+.
On the following day (today), Vodafone Idea shares fell as much as 6.21% to Rs 35.5 per share during the Friday trading session.
