American Tower Corporation to take $411-million impairment charge over Vi 'part-payments'

The US company said while announcing its fourth quarter earnings for 2022 that Vi had communicated in early 2023 that "it would not be able to resume payments in full, and would instead continue to make partial payments". It said ATC "considered these recent developments and the uncertainty with respect to amounts owed under its tenant leases when conducting annual impairment assessments for long-lived assets and goodwill in India, and as a result, impaired the tenant-related intangible assets for Vi, which resulted in an impairment of $411.6 million".