BackBharti Airtel shares gain as much as 6.79% on rating upgrade
S&P, late on Thursday, raised Bharti Airtel's long-term corporate credit rating to 'BBB-' from 'BB+'
Premium
Mumbai: Shares of Bharti Airtel Ltd rose as much as 6.79% after Standard and Poor’s Ratings Services upgraded the company’s ratings, traders said.
S&P, late on Thursday, raised Bharti’s long-term corporate credit rating to ‘BBB-’ from ‘BB+’.
The rating agency says the upgrade reflects expectation that Bharti will use its significant free operating cash flows and funds from strategic measures to reduce its leverage to a level that is in line with an “intermediate" financial risk profile.
Bharti Airtel shares ended 5.46% higher at ₹ 301.40, while the Sensex gained 1.89% to 21,919.79 points.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
