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ICRA downgrades RCOM debt rating
Rating firm ICRA has downgraded the long-term rating assigned to the `5,000cr
non-convertible debenture and `28,116cr long-term fund based/non-fund based limits of
RCOM from 'LAA+' to 'LAA'. The long-term rating continues to remain under watch with
negative implications. This apart, ICRA also has an outstanding rating of A1+ against the
`7,314cr short-term fund-based/non-fund based limits and `2,000cr commercial paper of
RCOM. ICRA said that the rating action takes into consideration the delay in the proposed
equity infusion and continuing regulatory uncertainties, which may impact the company’s
ability to deleverage its balance sheet. The company’s management has maintained that
the equity-raising plans are in progress and any such infusion would be used to deleverage
the company. We maintain our Neutral view on the stock.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
ICRA downgrades RCOM debt rating
Rating firm ICRA has downgraded the long-term rating assigned to the `5,000cr
non-convertible debenture and `28,116cr long-term fund based/non-fund based limits of
RCOM from 'LAA+' to 'LAA'. The long-term rating continues to remain under watch with
negative implications. This apart, ICRA also has an outstanding rating of A1+ against the
`7,314cr short-term fund-based/non-fund based limits and `2,000cr commercial paper of
RCOM. ICRA said that the rating action takes into consideration the delay in the proposed
equity infusion and continuing regulatory uncertainties, which may impact the company’s
ability to deleverage its balance sheet. The company’s management has maintained that
the equity-raising plans are in progress and any such infusion would be used to deleverage
the company. We maintain our Neutral view on the stock.
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