Fitch: Ivrcl on watch

Fitch Ratings said it has placed Ivrcl Ltd.'s national long-term Fitch A+(ind) rating on rating watch negative.

The agency added that it has also placed the Fitch A+(SO)(ind) rating on IVRCL Assets & Holdings Ltd.'s 2.5 billionn rupee non-convertible debenture program on watch following the announcement by the company's board that it has provided in-principle consent to the amalgamation of the companies as well as to the demerger of the latter's tower manufacturing factory.

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