Global rating agency, Standard & Poor’s Ratings Services has upgraded its long-term corporate credit rating on India-based telecommunication services provider Bharti Airtel to ‘BBB-’ from ‘BB+’. The outlook is stable.
At the same time, the rating agency has also raised the long-term issue rating on the $1.5 billion senior unsecured notes due 2023 and the euro 1 billion senior unsecured notes due 2018 that Bharti guarantees to ‘BBB-’ from ‘BB+’.
Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.
