S&P Global Ratings Upgrades Bharti Airtel's Credit Rating to BBB+ with Stable Outlook

MT Newswires Live

06/25

S&P Global Ratings has upgraded its rating for Bharti Airtel (NSE:BHARTIARTL, BOM:532454) to a 'BBB+' with a stable outlook from 'BBB' with a positive outlook, according to a filing to the Indian stock exchanges on Wednesday.

The ratings upgrade is driven by a strong growth in Africa and India, and balance sheet discipline.

"The stable outlook reflects our view that Bharti Airtel will pay down debt as earnings and cash flows rise, while maintaining a supportive leverage tolerance for the 'BBB+' rating over the next 12-24 months," S&P said.

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