Crisil upgrades Vodafone Idea’s credit rating on promoter support, improving market position

NEW DELHI: Crisil Ratings on Monday upgraded Vodafone Idea’s (Vi) credit rating to ‘A-’ (stable) on continued support from promoter entity, Aditya Birla Group (ABG) and an improvement in subscriber market share.

“ABG sees VIL as a strategically important entity and recent appointment of Mr. Kumar Mangalam Birla as VIL’s chairman highlights strong management control of the group,” the credit rating agency said in its report.

“The recent announcement of the group committing subscription of share warrants aggregating to ₹4,730 crore underscore the commitment of the group,” it added.