Bad Days Ahead for RCom? Moody’s & Fitch Downgrade RCom, Say Default a Possibility
Moody’s and Fitch have downgraded Anil Ambani-led telco Reliance Communications Limited's (RCOM) rating following full year net loss of Rs 1,285 crore and 11% decline in revenues. Moody's Investors Service has downgraded Reliance Communications Limited's (RCOM) corporate family rating and senior secured bond rating to Caa1 from B2. Fitch Ratings has downgraded RCom’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to 'CCC' from 'B+'. The agency has also downgraded... Read More
