Mahanagar Telephone Nigam Ltd

Mahanagar Telephone Nigam Ltd announced several rating actions and reaffirmations across various instruments by Brickwork Ratings India Pvt Limited and BWR. Brickwork Ratings initiated a review of bonds amounting to 6500.00, while BWR reaffirmed ratings including BWR AA+ (CE) with a removed Rating Watch with Negative Implications and an upgraded Outlook for bonds of the same amount, alongside a reaffirmation of BWR AAA (CE)/Stable for another 6500.00 of bonds, and a BWR D rating for unsupported bonds totaling 6500.00, alongside reaffirmations for Regulator Bonds of 4361.40 and SEBI Bonds of 2138.60, with assignments of AAA (CE)/Stable ratings for bonds with ISINs INE153A08089 and INE153A08097, and a downgrade for bonds (ISIN: INE153A08089) due to an inability to fund the designated Trust & Retention Account, alongside defaults on bank loans and a total debt of 35425.26.

Mahanagar Telephone Nigam Ltd announced ratings actions across several instruments from Brickwork Ratings India Pvt Limited and BWR. Brickwork Ratings has placed bonds amounting to 6500.00 in review. BWR reaffirmed its BWR AA+ (CE) rating for bonds totaling 6500.00, removing it from Rating Watch with Negative Implications and assigning an Outlook, alongside reaffirming its BWR AAA (CE)/Stable rating for bonds also amounting to 6500.00, and reaffirmed its Unsupported rating of BWR D for bonds totaling 6500.00; BWR also reaffirmed its BWR AAA (CE)/ Stable rating for Regulator Bonds of 4361.40, noting they are listed on BSE Ltd with semi-annual coupon payments, and reaffirmed its rating of AAA (CE)/ Stable for SEBI Bonds of 2138.60, also listed on BSE Ltd with semi-annual coupon payments, and assigned ratings of AAA (CE)/ Stable to two new Regulator Bonds: INE153A08089, 7.05%, 11 Oct 2030, and INE153A08097, 6.85%, 20 Dec 2030, both totaling 2138.60 and listed on BSE Ltd.

Mahanagar Telephone Nigam Limited (MTNL) submitted a confirmation certificate to the Bombay Stock Exchange (BSE) and National Stock Exchange of India Limited (NSE) on October 7, 2026, regarding compliance with Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026, as confirmed by Beetal Financial & Computer Services (P) Limited.

Mahanagar Telephone Nigam Limited (MTNL) informed the Bombay Stock Exchange and National Stock Exchange of India that Kiran Dubey has ceased to hold the office of Chief General Manager (CGM), MTNL Delhi and PGM(D&EB)/PGM(O&WS) MTNL Delhi, effective September 14, 2026, and Rajeev Narang, PGM (CFA) Delhi, has been entrusted with the additional charge of CGM, MTNL Delhi and PGM(O&WS)/PGM(D&EB) MTNL Delhi, in addition to his existing duties, also effective September 14, 2026.

Mahanagar Telephone Nigam Limited (MTNL) informed the Bombay Stock Exchange and National Stock Exchange of India that the trading window for its designated persons and their immediate relatives will be closed from October 1, 2026, until 48 hours after the declaration of the company’s unaudited reviewed financial results for the quarter ended September 30, 2026, in compliance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.

Mahanagar Telephone Nigam Limited (MTNL) informed the Bombay Stock Exchange and National Stock Exchange of India that the Comptroller and Auditor General of India has appointed M/s S L Chhajed &Co LLP and M/s S P A R K & Associates Chartered Accountants LLP as joint statutory auditors for the financial year 2026-2027.

Mahanagar Telephone Nigam Ltd. announced that CRISIL RATINGS LIMITED has continued the 'Rating Watch with Negative Implications' on its Non Convertible Debentures amounting to Rs. 20 crore and its Bond totaling Rs. 6,500 crore, both carrying a Crisil AAA (CE) rating, citing non-adherence to the structured payment mechanism for government-guaranteed bonds; additionally, Crisil has placed Bonds and Non-Convertible Debentures (NCDs) on watch negative, and reaffirmed a Crisil D rating for debt amounting to Rs. 2,839 crore due to ongoing debt servicing delays since June 2024, while Tier II Bonds (Under Basel III) totaling Rs. 6,800 crore and Rs. 2,852 crore, along with a Crisil A1+ rating, have also been impacted by a loan account with Bank of India slipping into a non-performing asset (NPA) category, with the government guarantee covering principal and interest on bonds and NCDs remaining in place.

Mahanagar Telephone Nigam Ltd (MTNL) has announced that India Ratings and Research Pvt Ltd issued a press release dated August 18, 2026, concerning the rating of bonds issued by MTNL; the press release fulfills compliance requirements under Regulation 30 & 51 of SEBI (LODR) Regulations, 2015, and no enhancements, assignments, or withdrawals of ratings were indicated within the released document pertaining to the bonds issued by MTNL.

Mahanagar Telephone Nigam Limited (MTNL) has defaulted on principal and interest payments to Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab and Sind Bank, and Indian Overseas Bank as of July 31, 2026, according to a regulatory filing. The total amount of outstanding borrowings from banks is Rs 9,575 crore, with a total financial indebtedness of Rs 37,396 crore, including Rs 9,575 crore in bank loans, Rs 24,071 crore in Singapore Government bonds, and Rs 3,750 crore in loans from the Department of Telecommunications to cover interest payments on the bonds.

Mahanagar Telephone Nigam will hold a meeting of the Board of Directors of the Company on 12 August 2026.