Airtel receives positive rating for corporate governance

Bharti Airtel today announced that credit rating agency CRISIL has assigned ‘GVC Level 1' rating to the company. The rating indicates that the company's capability, with respect to corporate governance and value creation for all its stakeholders, is the highest.

Lately, the telecom sector is going through a challenging time and recent negative outcome of AGR case has also raised a question of financial viability of incumbents players especially Vodafone-Idea. However, Bharti Airtel is well-poised in terms of financial positioning and recently, it had raised funds which again gave support to the company’s healthy financial position as against its close peer Vodafone-Idea.

The stock of Bharti Airtel was less hammered in this pessimistic scenario where the benchmark indices were locked in a lower circuit in the early morning trade. The stock opened lower at Rs 432 apiece and went down to Rs 419 but later, the stock settled for the day at Rs 490.7, up by six per cent from its previous close. Further, despite weak market sentiments, the stock of Bharti Airtel has delivered almost 10 per cent return on YTD basis.

Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.