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Ind-Ra Downgrades Rating On Vodafone Idea’s NCDs

Vodafone India Limited (VoIL) and Vodafone Mobile Services Limited (VMSL) which merged into the Company with effect from August 31, 2018 had credit ratings issued by India Ratings and Research (Ind-Ra) on VMSL’s Non-Convertible Debentures of Rs. 6000 crores. These ratings stand migrated to the Company i.e. Vodafone Idea Limited, consequent to the amalgamation of VoIL and VMSL with the Company.

India Ratings and Research (Ind-Ra) vide its communication uploaded on its website today, has downgraded its rating on Non-Convertible Debentures of Rs. 6000 crores of erstwhile Vodafone Mobile Services Limited (VMSL) and placed it on Rating Watch Negative (RWN). The revised credit ratings, now assigned to the Company is IND A+ / RWN from existing rating of IND AA- / Negative.

Shares of Vodafone Idea Ltd was last trading in BSE at Rs.33.95 as compared to the previous close of Rs. 34.25. The total number of shares traded during the day was 2740995 in over 4054 trades.―Equity Bulls

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