RCOM got a triple downgrade from the Rating Agencies and Stock Closed Positive

Rating Agencies like ICRA, CARE and moody’s downgraded RCOM on Tuesday (30th May 2017). Moody’s cut RCom’s debt ratings to Caa1 from B2, suggesting very high risk of default.

RCOM 1 minute charts

ICRA downgraded the long-term rating of RCom’s non-convertible debentures worth Rs 5,000 crore, bank credits aggregating Rs 35,430 crore and Rs 2,000 crore of commercial paper programme.

Earlier in the trading RCOM hits fresh 52 week low and intraday it is down even more than 9% touched a low of 18.10 followed by a strong recovery and infact closed positive at the market close(adjusted close was marginally negative).

In the FNO segment RCOM is in ban due to the Market Wide Position Limits.

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