Moody's rates Bharti Airtel notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to the proposed senior unsecured Swiss Franc-denominated notes issued by Bharti Airtel International (Netherlands) BV.

The notes are issued under the irrevocable and unconditional guarantee of Bharti Airtel Ltd. (Baa3 stable).

The outlook is stable.

Bharti will use the proceeds for refinancing purposes and therefore the transaction will be leverage neutral. The issue will diversify currency risk away from the U.S. dollar and further extend its maturity profile, both of which are credit positives.

"Bharti's Baa3 rating continues to be supported by strong performances from its wireless operations in India, where it maintains its market leading position with record number of subscribers," Moody's senior vice president Laura Acres said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.