Comments
Shares of Reliance Communications were down 2.2 per cent in pre-open trade after credit rating agencies Moody's and Fitch downgraded the company to default levels, their second rating cut in as many weeks.
The company shares were at Rs 19.70 in pre-open trade versus their previous close of 20.15 rupees on Tuesday.
RCom had on Friday secured a seven-month reprieve from lenders on its debt servicing obligations. The banks will consider converting part of their debt to equity if the company does not repay loans as planned by end-December.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.