Bharti Airtel Limited has informed the Exchange about Credit Rating- Revision
BHARTIARTL · price
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Awaiting price reaction for this filing.
Crisil Ratings has upgraded Bharti Airtel's long-term bank facility rating from 'AA+/Positive' to 'AAA/Stable', the highest investment-grade rating, while reaffirming its short-term rating and Rs 15,000 crore commercial paper at 'Crisil A1+'. The upgrade is based on improvement in both business and financial risk profiles in FY25, with consolidated revenue rising 16% to Rs 1.74 lakh crore and EBITDA up 21% to Rs 94,733 crore. The company gained ~400 bps revenue market share in domestic mobile from FY21 to FY25, ARPU rose 17% to Rs 245 after tariff hikes in June 2024, and net leverage improved from 2.5x to 2.1x. The company also voluntarily pre-paid around Rs 26,000 crore of high-cost spectrum liabilities in FY25, taking cumulative pre-payments over the last 3-4 years to about Rs 66,700 crore.
This is a positive development for shareholders as the upgrade to AAA — India's top credit rating — signals strong financial health and lower borrowing costs going forward. It reflects Airtel's market leadership (39.5% revenue share, 39 crore subscribers), improving profitability, and disciplined deleveraging, which should support investor confidence and the stock's valuation.