Mahanagar Telephone Nigam Limited — Credit Ratings, 27-08-2026: Credit Rating

Crisil Ratings Limited has affirmed MTNL's ₹6,500 Cr bonds and ₹20 Cr NCDs at Crisil AAA (CE), maintaining a 'Watch Negative' outlook. This reflects past delays in the government-backed payment mechanism, though recent adherence is noted. Sustained adherence and a confirmed process for timely payments are crucial to resolving the watch.