MTNL misses its coupon payment deadline on bonds

India Ratings & Research (Ind-Ra) is closely monitoring the financial situation of state-owned Mahanagar Telecom Nigam Limited (MTNL) after it failed to transfer sufficient funds to an escrow account for bond interest payments. This breach is deemed a default event, triggering a possible government guarantee invocation. MTNL issued bonds in July 2023, raising Rs 2,480 […]