Anil Ambani-led Reliance Communications’ (RCom’s) lenders have sought more information on its plan to reduce the debt amid sluggish cash flow and tumbling shares and bonds of the company.

With the limited ability to generate free cash flow, rating agency Moody’s said this would be insufficient to cover upcoming debt maturities without waivers from its lenders while the company pursued corporate restructuring.

The sell-off in RCom’s shares was despite the management’s assurance on Monday that it would reduce its debt by Rs 25,000 crore. This was to be done by selling its telecom towers to Canadian pension fund Brookfield for Rs 11,000 crore and transferring another Rs 14,000 crore of debt to a newly merged entity between its telecom services business and Aircel. RCom currently has cash and cash equivalent of Rs 1,020 crore.

RCom had told analysts on Monday that the sector’s free cash flows were at a highly negative level.The high level of total sector liabilities, at Rs 7.5 lakh crore, would be unsustainable if the current operating pressures continued.

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