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VODAFONE IDEA LIMITED — Capital/Financing Update 2020
Feb 17, 2020
61947_rns_2020-02-17_f15678c1-e19d-4ed0-a0da-16c3d8aff67b.pdf
Capital/Financing Update
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17 February 2020
National Stock Exchange of India Limited
"Exchange Plaza", Sandra - Kurla Complex, Sandra (E), Mumbai -400 051
BSE Limited
Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001
Dear Sirs,
Sub: Disclosure under Regulation 30 - Revision in Credit Rating
Ref: "Vodafone Idea Limited" (IDEA / 532822)
Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that Care Ratings Limited (CARE), has downgraded its rating on Long Term Bank Facilities and Non-Convertible Debentures as per the rating rationale uploaded on its website today (i.e. on 17.02.2020).
As per the rating rationale published on the website, the downgrade inter-alia, is on account of significant erosion in the overall risk profile of the company while taking into cognizance of the financial impact of no relief being granted on modification plea on 14th February 2020 of telecom companies (tefcos) seeking new schedule of Adjusted Gross Revenues (AGR) dues by Hon'ble Supreme Court and significant losses to the tune of Rs 6,453 Crores in Q3FY20.
The revised credit rating is as under:
| The revised credit rating is as under: | The revised credit rating is as under: | |||
|---|---|---|---|---|
| Credit~~Rating~~ ·Type of Credit Rating | Existing Rating/ | Revised Rating/ | ||
| Agency | Outlook | Outlook | ||
| CARE | Long Term Bank Facilities Non-Convertible Debentures |
CARE BBB- (Credit Watch with Negative�mplications) CARE BBB- (Credit Watch with Negative Implications) |
CARE BB- (Credit Watch with �Neg�t_ive__lmpl��i_ns) ' CARE BB- (Credit Watch with Negative Implications) |
The above is for your information and dissemination to the members.
Thanking you,
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Yours truly,
, or Vodafone Idea Limited
I
.
,,,
Pankaj Kapdeo
Company Secretary
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Vodafone Idea Limited (formerly Idea Cellular Limited) An Aditya Birla Group & Vodafone partnership
Birla_ Centurion, _91� to 12th Floor. Century Mills Compound, Pandur�ng Budhkar Marg, Worll. Mumbai. 400 030. T: +91 9S940 04000 IF: +91 22 2482 oo9s lwww.vodafoneidea.com Registered Office. Suman Tower. Plot no. 18. Sector 11. Gandhinagar· 382 011, Gujarat. T: +91 79 6671 4000 IF: +91 79 2323 2251 I CIN: L32100GJ1996PLC030976