ADVERTISEMENT
Bharti Airtel shares gain; S&P upgrades rating
07 Mar 2014, 11:48 AM IST
Shares of Bharti Airtel rose after Standard & 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 shares were trading 5.4 per cent higher at Rs 301 as of 11.13 a.m.
Copyright: Thomson Reuters 2014
Get live Stock market updates, Business news, Today’s latest news, Trending stories, and Videos on NDTV Profit.
ADVERTISEMENT