Moody's revises Bharti Airtel credit outlook rating to stable; stock opens in positive
The credit rating agency, Moody's Investors Service, has revised Bharti Airtel's credit outlook rating to stable from negative on the account of easing of competition in the telecom sector, increase in 4G customer base and mobile services rates from December.
It also considered options given to the company to make payment of pending adjusted gross revenue in installments while revising the outlook.
Moody's Investors Service has affirmed Bharti Airtel Ba1 corporate family rating, senior unsecured rating along with backed senior unsecured notes issued by Bharti's subsidiary i.e. Bharti Airtel International (Netherlands) BV. At the same time, Moody's has changed the rating outlook to stable from negative. The credit rating of a company indicates its ability to pay back a debt.
Bharti Airtel is a leading global telecommunications company with operations in 18 countries across Asia and Africa.
Today, the stock of Bharti Airtel opened at Rs 495.90 and gained one per cent and made an intraday high of Rs 498 on BSE.