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MARKET EYE-India's Bharti Airtel shares gain; S&P upgrades rating
March 7, 2014 / 4:53 AM / 4 years ago

MARKET EYE-India's Bharti Airtel shares gain; S&P upgrades rating

* Shares of India's Bharti Airtel rise as much as 4.7
percent after Standard & Poor's Ratings Services upgrades the
company's 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 higher 3.92 percent at 297 rupees as of 0428
GMT.

 (indulal.p@thomsonreuters.com/indulal.p.thomsonreuters.com@reut
ers.net)

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