Care Ratings upgrades Vodafone Idea to 'Stable' outlook

The agency had given the telco a CARE B- (Credit Watch with Negative Implications) for Long Term Bank Facilities and Non-Convertible Debentures but now upgraded both to CARE B+ (Outlook : Stable). These changes come on the back of Vi opting for a four-year moratorium on statutory payouts towards adjusted gross revenue (AGR) and spectrum dues and taking a decision to convert the interest from the deferred spectrum to 35.8% government equity.

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