The Standard and Poor?s Rating Services (S&P) has upgraded the issuer rating of Bharti Airtel to ?BBB-? with a stable outlook. According to S&P, Bharti has an adequate liquidity profile, and anticipates that the same would continue.
Following the positive ratings by S&P, Bharti Airtel now carries a stable investment grade rating from all three major rating agencies – S&P (BBB-; Stable), Moody?s (Baa3; Stable) and Fitch (BBB-; Stable).
The rating reflects Bharti Airtel?s leadership in the market, strong financial profile and is reflective of the improving regulatory and competitive environment in India.
Commenting on the positive rating by the three rating agencies, Harjeet Kohli, group treasurer, Bharti Airtel, says, ?The investment grade rating by all the three major agencies is a strong reflection of our robust financial health and market leadership and business prospects. The consistent investment grade ratings give us an even better access to global capital markets to continue to diversify our sources of funding and lengthening the tenors of our debt.?
