From CRISIL
Vodafone Idea announced that CRISIL has downgraded its rating on Non-Convertible Debentures of Rs. 3,500 crores of erstwhile Vodafone Mobile Services (since merged with the company).The downgrade is on account of expectation of a significant deterioration in Company's financial risk profile on account of the potential payout against the adjusted gross revenue (AGR) related liability, post the dismissal of the review petition by the Supreme Court. However, Supreme Court has agreed to hear the modification application filed by telecom companies next week, wherein the telcos have requested modification in the original order dated 24 October 2019, to decide upon the payment schedule for AGR liabilities and any other relief measures with DoT.
Non-Convertible Debentures - CRISIL BB/ Rating watch with negative implications (Revised from BBB-/Rating watch with negative implications)
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