International credit rating agency Standard and Poor's today upgraded telecom major Airtel to 'BBB-' on account of reduced debt and an improved regulatory environment.
The agency said in a statement that "it had raised its long-term corporate credit rating on Bharti Airtel LtdBSE 1.06 % to 'BBB-' from 'BB+'. The outlook is stable."
Simultaneously, S&P raised the long-term issue rating on the USD 1.5 billion raised by the company through senior unsecured notes and the 1 billion euro bonds backed by the company's guaranty to 'BBB-' from 'BB+'.
A 'BBB-' rating is considered the lowest investment grade by market participants and a BB+ rating is considered the highest speculative grade, according to S&P's website.
The agency said in a statement that "it had raised its long-term corporate credit rating on Bharti Airtel LtdBSE 1.06 % to 'BBB-' from 'BB+'. The outlook is stable."
Simultaneously, S&P raised the long-term issue rating on the USD 1.5 billion raised by the company through senior unsecured notes and the 1 billion euro bonds backed by the company's guaranty to 'BBB-' from 'BB+'.
A 'BBB-' rating is considered the lowest investment grade by market participants and a BB+ rating is considered the highest speculative grade, according to S&P's website.