Vodafone Idea receives downgrade in ratings for NCDs

From Brickwork Ratings

Vodafone Idea announced that the Brickwork Ratings, has downgraded its rating on Non-Convertible Debentures from BWR A- to BWR BBB-. The downgrade is on account of considerable impact of the AGR related liability on the financial performance of the company resulting in huge losses, erosion of net worth and deterioration in the overall risk profile of the company.

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