Mahanagar Telephone Nigam Ltd. announced that CRISIL RATINGS LIMITED has continued the 'Rating Watch with Negative Implications' on its Non Convertible Debentures amounting to Rs. 20 crore and its Bond totaling Rs. 6,500 crore, both carrying a Crisil AAA (CE) rating, citing non-adherence to the structured payment mechanism for government-guaranteed bonds; additionally, Crisil has placed Bonds and Non-Convertible Debentures (NCDs) on watch negative, and reaffirmed a Crisil D rating for debt amounting to Rs. 2,839 crore due to ongoing debt servicing delays since June 2024, while Tier II Bonds (Under Basel III) totaling Rs. 6,800 crore and Rs. 2,852 crore, along with a Crisil A1+ rating, have also been impacted by a loan account with Bank of India slipping into a non-performing asset (NPA) category, with the government guarantee covering principal and interest on bonds and NCDs remaining in place.
