Vodafone Idea’s First Credit Rating Upgrade

Vodafone Idea Ltd. witnessed its first credit rating upgrade since the merger of Vodafone India Ltd. and Idea Cellular Ltd. CARE Ratings upgraded its long-term rating on bank facilities and NCDs to B+ from B-. Also, the outlook was revised to ‘stable’ from ‘credit watch with negative implication’.
Improvement in industry dynamics, tariff hikes, and timely repayment of dues are the reasons behind this rating upgrade. However, the rating remains constrained due to deteriorated financial risk profile.
Watch the video to know the reasons behind the gains in the share prices of Vodafone Idea.
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