Bharti Airtel dips 5% as Moody's places co's rating on review for downgrade

"The review for downgrade is primarily driven by our expectation that Bharti's cash flow generation will remain weak and leverage elevated," Moody's VP and Senior Credit Officer Annalisa DiChiara said

Shares of telecom major Bharti Airtel on Friday dropped as much as 5.21 per cent to Rs 290 apiece on BSE after Moody's Investors Service placed the company's rating on review for downgrade, following low levels of profitability and expectation of weak cash flow.

Moody's has placed on review for downgrade the 'Baa3' issuer and senior unsecured rating of Bharti Airtel and the ratings on the backed senior unsecured notes issued by Bharti's wholly-owned subsidiary, Bharti Airtel International (Netherlands) B V, PTI reported quoting the US-based agency as saying. READ MORE

"The review for downgrade is primarily driven by our