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Shares of Reliance Communications fell nearly 2 percent Intraday on Friday after investors turned cautious on the downgrades to its IDRs.
Fitch Ratings revised the company’s long-term foreign and local-currency issuer default ratings (IDRs) to 'CCC' from 'B+' and downgraded the rating on USD 300 million 6.5% senior secured notes due 2020 to 'CCC/RR4' from 'B+/RR4'.
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