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With net of debt of Rs 44,300 crore as of end-March, RCom - as the company is widely known - is the most leveraged listed Indian telecom company, and along with its rivals has been hit badly by a price war with upstart rival Reliance Jio
The drinks giant claims Mallya breached a $75 million agreement, of which it had already paid out $40 million, made when he stepped down as chairman of United Spirits in February 2016. It's also seeking about $141 million over questionable payments made by companies affiliated with Mallya.
Outlining the buyback dates in a regulatory filing, Infosys said that the company through letter dated November 16 received observations from the Securities and Exchange Board of India on the draft letter of offer for the buyback.
The government's credit strength is an important input in Moody's deposit and debt ratings for financial institutions because it impacts Moody's assessment of the government's capacity to provide support lenders in times of stress.
The US-based Moody's upgraded India's sovereign rating after a gap of 13 years to Baa2, with 'stable' outlook, from Baa3 earlier, citing improved growth prospects driven by economic and institutional reforms.
The rating agency upgraded the Government of India's local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive. Moody's said the decision to upgrade the rating was underpinned by the expectation that continued progress on economic and institutional reforms will, over time, enhance India's high growth potential.