INSUBCONTINENT EXCLUSIVE:
MUMBAI: Rating companies are evaluating the ability of financially-troubled Vodafone Idea to service its debt after the company reported
losses amounting to 50,921 crore in the latest quarter as it provided for payout to the government.
Last month, CRISIL and CARE Ratings put
Vodafone Idea on negative credit watch in the wake of the Supreme Court order asking it to add over 28,450 crore to the sovereign cover
A- from A as the rating company put the issuer under Credit Watch with negative implications on October 31.
A day after CRISIL too
executive dealing directly with the rating officials
ability to service its debt while sustaining regular operations, said the person
If the government offers to stagger the sovereign repayments, it could well prove to be a lifeline for the company
Court had ruled that the telecom players have to include non-core revenues in Adjusted Gross Revenue (AGR) to calculate the spectrum charges
CARE said in the release.