Vodafone Idea cannot pay AGR dues – India Ratings

India Ratings, a unit of Fitch Group, downgraded the credit rating of Vodafone Idea and said it doesn’t see how the company can pay the money sought by the Department of Telecom as directed by the Supreme Court. A bench headed by Justice Arun Mishra has asked companies such as Vodafone Idea and Bharti Airtel […]

TRAI Tariff Order will hurt broadcasters: Ind-Ra

India Ratings, a unit of Fitch Group, said new tweaks to TRAI’s 2017 tariff order — scheduled to come into effect on March 1 — are likely to reduce revenue for channel owners, be neutral for cable and DTH players and reduce costs for consumers. “India Ratings & Research (Fitch Group) believes that Telecom Regulatory […]

Reliance Jio will be 70% bigger than Airtel, Vod-Idea in 3 years-India Ratings

Reliance Jio, the start-up telecom operator, will become 70% bigger than current market leaders Vodafone Idea and Bharti Airtel in India in three years, India Ratings said. By FY22, Reliance Jio will have cornered 43.2% of the Indian telecom revenues, while Vodafone Idea and Bharti Airtel will have to be content with 25.4% each, the […]

Ind-AS to crimp public sector banks’ growth due to higher provisioning

Public sector banks would need to divert an estimated Rs 63,000 cr, or about 41% of the total money that the government has promised, to meet increased provisioning requirements for loans under the new Ind-AS accounting standard, India Ratings said, adding that this would ‘knock down’ their growth aspirations and hurt market share. Provisioning refers […]

Reliance Jio impact could be ‘painful’ for banks, but good for industry – Ind-Ra

Credit rating agency India Ratings has warned that the ongoing consolidation in the telecom industry caused by the entry of Reliance Jio will be painful for lenders and banks, but was good for the industry as whole. It said it had become difficult for smaller players to survive in the market after the entry of […]

Reliance Infrastructure responds to downgrade by India Ratings

Reliance Infrastructure said it disagreed with the decision by India Ratings, a unit of Fitch, to downgrade its debt over delays in equity infusion and monetization of assets. “The Company respectfully disagrees with the views of India Ratings,” it said today. “The Company has taken series of steps for asset monetization including inter alia filing […]

India Ratings downgrades Shree Renuka Sugars on sugar price concerns

India Ratings and Research has downgraded Shree Renuka Sugars Limited to IND BB- from IND BBB- fearing liquidity problems caused by falling sugar prices. It also held out a bleak outlook for the sugar industry in general. “The downgrade reflects the likelihood of higher-than-expected liquidity concerns post Ind-Ra’s further interactions with SRSL’s management amid falling […]