Vodafone Idea shares fall after CRISIL downgrades rating of NCDs worth Rs 6,000 crore

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After Merger With Vodafone Group, Idea Cellular Becomes ‘Vodafone Idea Limited’

Vodafone Idea shares fell as a lot as 2.11% to Rs 36.95 per share within the opening commerce. Photo: Reuters

New Delhi: Vodafone Idea stated Thursday that CRISIL has downgraded the rating on non-convertible debentures of Rs 6,000 crore and has re-affirmed its rating on business paper of Rs 2000 crore of erstwhile Vodafone Mobile Services. Vodafone Idea shares fell as a lot as 2.11% to Rs 36.95 per share within the opening commerce. At 9.20am, the inventory traded 1.72% decrease at Rs 37.10 per share.

“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,” a BSE submitting stated.

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

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