JKB Financial Services Ltd.

As on : 08-Oct-2026

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08-Oct-2026 13:18

Mahanagar Telephone Nigam Ltd faces rating actions and defaults on substantial debt obligations

Mahanagar Telephone Nigam Ltd announced several rating actions and reaffirmations across various instruments by Brickwork Ratings India Pvt Limited and BWR. Brickwork Ratings initiated a review of bonds amounting to 6500.00, while BWR reaffirmed ratings including BWR AA+ (CE) with a removed Rating Watch with Negative Implications and an upgraded Outlook for bonds of the same amount, alongside a reaffirmation of BWR AAA (CE)/Stable for another 6500.00 of bonds, and a BWR D rating for unsupported bonds totaling 6500.00, alongside reaffirmations for Regulator Bonds of 4361.40 and SEBI Bonds of 2138.60, with assignments of AAA (CE)/Stable ratings for bonds with ISINs INE153A08089 and INE153A08097, and a downgrade for bonds (ISIN: INE153A08089) due to an inability to fund the designated Trust & Retention Account, alongside defaults on bank loans and a total debt of 35425.26.

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