CARE downgrades Vodafone Idea's credit rating

Credit rating agency, CARE has downgraded Vodafone Idea to ‘A’ with negative outlook on account of weak financial performance. The revision in ratings assigned to the bank facilities/instruments of the company is on account of further deterioration in the operational and financial performance of the company during first quarter of financial year 2020.

Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.