Moody’s, however, affirmed ‘Baa3’ rating because of its leadership position, strong spectrum portfolio, along with capital of Rs8,800 crore in unrestricted cash. Photo:New Delhi: Moody’s Investors Service on Tuesday changed Airtel credit outlook to negative from stable, as pressure on earnings is likely to continue, with Reliance Jio trying to increase its subscriber base by offering low tariff. “Moody’s Investors Service has affirmed Bharti Airtel Ltd’s (Bharti) Baa3 issuer rating and senior unsecured debt ratings, as well as the Baa3 ratings on the senior unsecured notes issued by Bharti Airtel International (Netherlands) BV...At the same time, Moody’s has changed the outlook on the ratings to negative from stable,” Moody’s said in a statement. The factors that worked for Bharti retaining ‘Baa3’ rating included its ability to increase revenue market share for its India mobile services from to 33.1% in December 2017 from 31.6% in December 2016. Upwards ratings pressure on Bharti Airtel is unlikely, given the negative outlook.

Source: Mint May 23, 2017 17:01 UTC