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Fitch downgrades rating assigned to RCom’s arm

31 Jan 2018 Evaluate

Fitch has downgraded rating assigned to Global Cloud Xchange (GCX), a subsidiary of Reliance Communications (RCom), citing a variety of factors, including the woes of its parent RCom.

GCX’s issuer default rating has been downgraded to ‘CCC’ from the earlier ‘B-‘, while the one on the $350- million secured notes due 2019 has been revised down to ‘B-‘ from ‘B+’, with a recovery rating of ‘RR2’.

RCom is India’s foremost and truly integrated telecommunications service provider.

Reliance Comm Share Price

1.05 0.01 (0.96%)
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Peers
Company Name CMP
Bharti Airtel 1846.55
Vodafone Idea 9.62
Indus Towers 412.35
Tata Communications 1521.05
Bharti Hexacom Ltd. 1538.30
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