Credit rating agency, CARE has assigned AAA (SO) rating to Mahanagar Telephone Nigam’s Bond Issue worth Rs 3,000 crore. The rating for the aforesaid bond issue is based on the credit enhancement in the form of unconditional and irrevocable guarantee of Government of India (GoI), supported by a structured payment mechanism.
MTNL was set up by the Government of India to upgrade the quality of telecom services, expand the telecom network, and introduce new services and to raise revenue for telecom development needs of India's key metros -- Delhi and Mumbai.
