Credit rating agency, ICRA has revised rating assigned to Reliance Communications’ (RCom) Long term Bank Facilities from 'BBB' to 'BB' with negative outlook and Short-Term rating on Fund Based / Non Fund Based Limits and Commercial Papers of the company from `A3+' to' A4'.
ICRA has stated the reasons for this revision as the persisting pressures on and weakening outlook of the revenue generation and profitability of the company given the competitive intensity in the industry.
RCom is engaged in providing information and communications services. It provides telecom services for mobile and fixed line telephony. It offers code division multiple access (CDMA), global system for mobile (GSM), and 3G wireless services, wireline, voice, data, video, internet services.
