RCom gets 7-month reprieve from lenders to pay debt
Chairman Anil Ambani says by year end telco will cut its debt burden by 60%02-06-2017
02-06-2017
Reliance Communications Ltd reply to clarification sought by the exchange
The Exchange had sought clarification from Reliance Communications Ltd with respect to news appearing on ET NOW on June 1, 2017 titled "RCom defaults on Rs.90 cr interconnect dues to Airtel."Reliance Communications Ltd response is enclosed.02-06-2017
Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Reliance Ornatus Enterprises & Ventures Pvt Ltd01-06-2017
Credit Rating
We wish to inform you that Fitch Ratings (Fitch), International rating agency, has revised Company's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to 'CCC' from 'B+' and downgraded the rating on USD300 million 6.5% senior secured notes due 2020 to 'CCC/RR4' from 'B+/RR4'. The Rating Watch Negative on the IDRs and notes has been removed.01-06-2017
Clarification sought from Reliance Communications Ltd
The Exchange has sought clarification from Reliance Communications Ltd with respect to news appearing on ET NOW on June 1, 2017 titled "RCom defaults on Rs.90 cr interconnect dues to Airtel."The reply is awaited.01-06-2017
Bada bhai & bailout: 4 things Anil Ambani may talk about in RCom meet tomorrow
Bada bhai & bailout: 4 things Anil Ambani may talk about in RCom meet tomorrowRCom posted its first yearly loss since its inception of Rs 1,285 crore for fiscal gone by as against a net profit of Rs 660 crore when compared on a like to like basis.01-06-2017
Banks to discuss debt mess with Reliance Communications
Reliance Communications' lenders have sought more information on its plan to reduce debt, in the wake of a slowing in cash flow and its shares and bonds being hit by a series of rating downgrades.Those with equity exposure to the company have also sought the plan to manage its liquidity. Life Insurance Corporation, for instance, owns a 6.5 per cent stake. Bankers said with the company becoming a 'Special Mention Account' after failing to pay its debt instalment on time, they'd be monitoring the financial health. The meeting is being called after the recent sell-off in the company's shares and bonds which has erased equity investors' wealth worth Rs 3,600 crore in the past two weeks. The RCom stock closed flat at Rs 20 a share on Wednesday after falling eight per cent in intra-day trade. The bonds listed overseas are due for payment in 2020 and have lost a third of their value since the sell-off began two weeks ago.RCom had earlier said it would sell its 130-acre campus near Mumbai...31-05-2017
Mukesh Ambani's Reliance Jio vs Anil Ambani's RCom: One sector, two tales
Reliance Info comm went to the public in 2005 and was rechristened as Reliance Communications (RCom). But, the younger Ambani's business seems to be struggling as compared to his elder brother Mukesh.31-05-2017
Reliance Communications shares plunge yet again on loan repayment, debt downgrading woes
Anil Ambani-owned Reliance Communications reported dismal Q4 results amid mounting loans and downgrading of its debt by credit rating agencies.31-05-2017