Credit rating agency, CARE has reaffirmed AA rating to Idea Cellular’s Long-term Bank Facilities worth Rs 6,916.81 crore and A1+ rating to Short-term Bank Facilities worth Rs 7,334.00 crore. The rating agency has also reaffirmed ‘AA’ rating to company’s Non-Convertible Debenture issue worth Rs 1,000.00 crore.
The company has received the said rating on the back of its pan-India presence with strong brand recognition of ‘Idea’, healthy increase in the subscriber base over the past few years, roll out of 3G services and favourable growth potential for mobile telephony in India.
Idea Cellular, an AV Birla group company, provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level, it is present in all 22 telecom circles.
