Vodafone Idea said Thursday that CRISIL has downgraded the rating on non-convertible debentures of Rs 6,000 crore and has re-affirmed its rating on commercial paper of Rs 2000 crore of erstwhile Vodafone Mobile Services.

"CRISIL vide its communication uploaded on its website today, has downgraded its rating on non-convertible debentures of Rs 6,000 crore and has re-affirmed its rating on CP Programme of Rs 2,000 crore of erstwhile Vodafone Mobile Services Limited (VMSL), which has since been migrated to Vodafone Idea Limited (the Company) pursuant to amalgamation of VMSL with the Company," a BSE filing said.

According to statement, the rating of Non-Convertible Debentures has been downgraded to CRISIL A+ (Negative Outlook) from existing CRISIL AA- (Negative Outlook).

The rating for commercial paper programme has been re-affirmed at CRISIL A1+. 

Meanwhile, it was reported that the Telecom Regulatory Authority of India (Trai) confronts Bharti Airtel and Vodafone Idea for warning subscribers of getting a minimum recharge plans and failing to do will have their sim deactivated. 

A report in ET quoted the Trai letter to both of the firms, “Trai has received a large number of complaints regarding SMSs being received by them to mandatorily recharge their prepaid accounts in order to continue to avail services even though their prepaid account have sufficient balance in it.” The regulator wrote in similar but separate letters to the two telcos dated November 27, the report said. 

The regulator met with the telcos on November 26 and sent out the letters a day later, the report mentioned.