S&P upgrades Bharti Airtel’s rating to ‘BBB+’ on strong India, Africa growth, improving business
NEW DELHI: S&P Global Ratings on Wednesday upgraded its long-term issuer credit rating on Bharti Airtel to ‘BBB+’ from ‘BBB’, citing strong earnings growth prospects in India and Africa, as well as the Sunil Mittal-driven telco’s improving balance sheet.
“Growing data consumption and a fundamental improvement in Indian and African telco markets will help expand Bharti Airtel’s earnings” and support further deleveraging, the credit rating agency said in a report.
