S&P: Bharti Airtel to positive

Standard & Poor's said it revised the outlook on Bharti Airtel Ltd. to positive from stable.

The agency also said it affirmed the company's BB+ long-term corporate credit rating and the BB+ long-term issue rating on its guaranteed $1.5 billion senior unsecured notes.

S&P also said it assigned a BB+ long-term issue rating to the €750 million senior unsecured notes due 2018 that Bharti guarantees. Bharti Airtel International (Netherlands) BV issued all of the notes.

The agency said it revised the outlook to positive to reflect an expectation that Bharti will sustain its improved operating performance while controlling its license renewal costs and capital expenditure, leading to an improvement in its financial strength over the next six to nine months.

S&P also said it expects greater clarity to emerge on India's regulatory framework, particularly regarding license renewal.

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