Fitch reaffirms BB+ rating to Bharti
Global rating agency Fitch on Tuesday reaffirmed Bharti Airtel's long-term foreign currency Issuer Default Rating (BB+) and indicated an improvement in the rating in future.
By PTI |
NEW DELHI: Global rating agency Fitch on Tuesday reaffirmed Bharti Airtel's long-term foreign currency Issuer Default Rating (BB+) and indicated an improvement in the rating in future.
The rating outlook is stable, reflecting the expectation that Bharti can sustain its strong growth and market position while maintaining a sound financial profile, the rating agency said in a release.
Going forward, sustainable positive free cash flow generation and effective management of competitive pressures could exert upward pressure on the ratings, it said.
Fitch said, the company is one of India's leading private-sector telecom operators with proven execution abilities and a pan-national cellular footprint.
The rating also reflects its strengthening financial profile, underscored by sustained strong earning growth and declining leverage in FY06.
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