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BRIEF-Fitch says downgraded Reliance Communications's Long-Term Foreign- & Local-Currency Issuer Default Ratings to 'RD'
June 6, 2017 / 2:01 PM / 6 months ago

BRIEF-Fitch says downgraded Reliance Communications's Long-Term Foreign- & Local-Currency Issuer Default Ratings to 'RD'

June 6 (Reuters) - Fitch:

* Fitch says downgraded Reliance Communications Limited’s Long-Term Foreign- and Local-Currency Issuer Default Ratings to ‘RD’ from ‘CCC’

* Fitch says also downgraded rating on RCom’s $300 million 6.5% senior secured notes due 2020 to ‘C/RR4’ from ‘CCC/RR4’

* Fitch says downgrade follows RCom’s june 2 announcement that all of its bank lenders are prepared to waive debt service obligations until end-2017

* Fitch on RCom - Believe weakening cash generation in Indian wireless sector may hamper co’s plan to sell 51% of tower business, Reliance Infratel Ltd​ Source text for Eikon: Further company coverage:

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