Shares of Reliance Communications on Wednesday fell 2%, after Fitch withdraws company ratings.
Guwahati/ 6th December’2017(Prag News Desk): On Tuesday, credit rating agency Fitch has chosen to withdraw the ratings on Rcom for commercial reasons, which resulted in sinking of shares of Reliance Communications by more than two percent in morning trade on bourses. Rcom’s stock has opened at Rs 11.10 and has fell 2.38 percent to touch an intra-day low of Rs 11.07 on the BSE. Besides on NSE, its stock opened at Rs 11.35, then fell 2.64 percent to touch an intra-day low of Rs 11.05.
Meanwhile, RCom informed all the stakeholders that the lenders of the company have invoked strategic debt restructuring (SDR) scheme as per RBI guidelines. And various entities like China Development Bank, consultant Fortuna Public Relations and others have filed insolvency case against RCom.