 "airtel, bharti airtel, airtel payments bank")
Global rating agency Moody's has downgraded Bharti Airtel Ltd's senior unsecured rating from "Baa3" to "Ba1" due to uncertainty over profitability, cash-flow and debt level in a competitive market.
The rating outlook is negative.
This rating action concludes the review for downgrade initiated on November 8, 2018.
The downgrade reflects uncertainty as to whether or not the company's profitability, cash flow situation and debt levels can improve sustainably and materially, given the competitive dynamics in the Indian telco market, said Moody's vice president and senior credit officer Annalisa DiChiara.
Bharti reported EBITDA (Earning before interest, tax, depreciation) of Rs 26,500 crore
