Bharti Airtel shares gain; S&P upgrades rating
Mar 07 2014 , Mumbai
S&P, late on Thursday, raised Bharti's long-term corporate credit rating to 'BBB-' from 'BB+'.
The rating agency says the upgrade reflects expectation that Bharti will use its significant free operating cash flows and funds from strategic measures to reduce its leverage to a level that is in line with an "intermediate" financial risk profile.
Bharti shares were trading 5.4 percent higher at 301.15 rupees as of 11.13 a.m.