Moody's upgrades Bharti Airtel's rating to 'Baa3'; outlook stable

Continuous improvement in operational profile, financials triggers upgrade, says the ratings agency

Ratings agency Moody's on Thursday upgraded ratings of Bharti Airtel Ltd’s (Bharti) senior unsecured debt from “Ba1” to “Baa3” on basis of the telco's continued strengthening of the company's operational metrics and stabilisation of financial profile.

Moody's has changed the outlook on the ratings to stable from positive. Rating agency assigned  “Baa3” issuer rating to Bharti. At the same time, it withdrew the company's Ba1 corporate family rating (CFR).

Annalisa Di Chiara, a Senior Vice President, Moody’s said the company financial profile shows lower leverage levels and improving profitability. "Moreover, we expect that these improvements can be sustained given Bharti's