ICRA places long-term capitals of three ADAG firms under watch

8220;ICRA has placed the LAA long-term rating assigned to the Rs 5,000 crore non-convertible debenture programme and Rs 28,116 crore long-term fund based/non-fund based limits of Reliance Communications Ltd RCom under watch with negative implications,8221; it said in a statement.

The 8216;LAA8217; suggest high-credit-quality rating with the rated instrument considered to be carrying low credit risk.

8220;The rating action takes into consideration regulatory uncertainties and overall negative sentiments about the telecom sector in India,which in ICRA8217;s opinion,may adversely affect the company8217;s ability to deleverage its balance sheet,8221; the ratings firm said.

Regarding Reliance Telecom Ltd and Reliance Infratel Ltd,ICRA said their 8220;rating action takes into account the placement of long term rating of the parent company 8212; RCom 8212; under watch with negative implications.8221;