Credit rating agency Brickwork Ratings has downgraded Vodafone Idea’s rating on non-convertible debentures (NCDs) citing recent court ruling on adjusted gross revenue and extension of timeline with regard to the sale of stake in Indus Tower to Bharti Infratel. The rating agency has downgraded Vodafone Idea from ‘A+’ (with a negative outlook) to ‘A-’ rating, which says ‘watch with negative implications’.
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.
