Bharti Airtel shares gain; S&P upgrades rating

Shares of Bharti Airtel rise after Standard & Poor's Ratings Services upgrades the company's

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ratings, traders said.

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.

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