MUMBAI -- Reliance Communications shares slipped nearly 4% on Wednesday, after ratings agencies downgraded the Indian telecommunications company over concerns about liquidity and debt repayment.
Fitch cut RCom's long-term foreign- and local-currency issuer default ratings to RD, or restricted default -- its lowest grade. Moody's assigned its second-lowest grade, Ca, to the company's corporate family and senior secured bonds. Moody's said the outlook for the company is negative.
