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Business News/ Companies / News/  Vodafone Idea shares fall after CRISIL downgrades rating of NCDs worth 6,000 crore
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Vodafone Idea shares fall after CRISIL downgrades rating of NCDs worth ₹6,000 crore

CRISIL downgraded the rating on NCDs of ₹6,000 crore and reaffirmed its rating on commercial paper of ₹2000 crore of erstwhile Vodafone Mobile Services

Vodafone Idea shares fell as much as 2.11% to Rs 36.95 per share in the opening trade. Photo: ReutersPremium
Vodafone Idea shares fell as much as 2.11% to Rs 36.95 per share in the opening trade. Photo: Reuters

New Delhi: Vodafone Idea said Thursday that CRISIL has downgraded the rating on non-convertible debentures of 6,000 crore and has re-affirmed its rating on commercial paper of 2000 crore of erstwhile Vodafone Mobile Services. Vodafone Idea shares fell as much as 2.11% to 36.95 per share in the opening trade. At 9.20am, the stock traded 1.72% lower at 37.10 per share.

“CRISIL vide its communication uploaded on its website today, has downgraded its rating on non-convertible debentures of 6,000 crore and has re-affirmed its rating on CP Programme of 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," a BSE filing said.

According to statement, the rating of Non-Convertible Debentures has been downgraded to CRISIL A+ (Negative Outlook) from existing CRISIL AA- (Negative Outlook). The rating for commercial paper programme has been re-affirmed at CRISIL A1+.

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Published: 30 Nov 2018, 09:21 AM IST
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