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  Business   Market  07 Jun 2017  RCom shares slide post Moody's and Fitch ratings

RCom shares slide post Moody's and Fitch ratings

REUTERS
Published : Jun 7, 2017, 11:41 am IST
Updated : Jun 7, 2017, 11:41 am IST

Shares of Reliance Communications fell further in pre-open trade post credit rating agencies Moody's and Fitch downgraded the company.

Reliance Communications Chairman Anil Ambani.
 Reliance Communications Chairman Anil Ambani.

Mumbai: Shares in Reliance Communications were down 2.2 percent 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.

Shares in the company were at 19.70 rupees 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.

Tags: reliance communications, rcom, anil ambani, reliance shares, fitch rating agency, global credit rating agencies, indian market, rcom share prices
Location: India, Maharashtra, Mumbai (Bombay)