Bharti Airtel gets S&P upgrade backed by strong Q2 earnings, cash flow
New Delhi: S&P Global Ratings has upgraded Bharti Airtel’s long-term issuer credit rating to BBB from BBB- on the back of the company’s strong earnings momentum and cash flow, which is expected to drive continued deleveraging over the next 12-24 months.
The ratings agency reaffirmed Airtel’s outlook to positive.
The ratings agency also raised its ratings on the telco’s senior unsecured debt to BBB from BBB-, and upgraded ratings on its subordinated perpetual securities to BB+ and BB.
