Moody's downgrades Bharti Airtel rating to Ba1 over cash-flow situation

Last week, Bharti Airtel reported a 72 per cent decline in consolidated net income for the three months ended December 31, 2018 at Rs 86 crore

Moody’s Investors Service on Tuesday downgraded the credit rating of Bharti Airtel and the unsecured notes issued by its arm Bharti Airtel International (Netherlands) BV mainly on ac­count of uncertainty around the company’s profitability, cash-flow situation and debt levels.

The telco was assigned a credit rating of Ba1. This means obligations are judged to have speculative elements and are subject to substantial credit risk but have a superior ability to repay short-term debt obligations, the agency said in a statement. Ratings range between Aaa, which is the highest, and C, the lowest category. 

“Moody’s assigned a Ba1 corporate family rating