Aircel Delays Debt Repayments; in Talks With Lenders for Strategic Debt Restructuring
Ailing GSM telecom service provider Aircel has delayed payment of interest on its debt repayment obligations on account of its weak liquidity position, rating agency CARE said, which also downgraded the telco to a default (D) grade. The telco has long-term bank loans of Rs. 174.79 billion or $2.7 billion, the agency said. Various media reports said that Aircel is talking to its lenders for a strategic debt restructuring (SDR).... Read More
