Moody’s revises Bharti Airtel to negative

The market will witness intense competition over the next one year as the new entrant Reliance Jio Infocomm will aggressively pursue subscriber acquisition, Moody's said.

By: ENS Economic Bureau | New Delhi | Updated: May 24, 2017 6:09:24 pm

Airtel, Bharti airtel, Moody, Moody Bharti airtel, Jio, reliance, reliance JIo, technonlogy news, tech news, indian express news Moody’s said while Bharti recorded a 4.3 per cent growth consolidated Ebitda y-o-y at March 31, 2017, the effects of intense competition in the mobile services segment were particularly evident in Q4. (Representational photo)

Moody’s on Tuesday changed its outlook on Bharti Airtel’s issuer rating and senior unsecured debt ratings, and its ratings on senior unsecured notes, to negative from stable.

Moody’s said while Bharti recorded a 4.3 per cent growth consolidated Ebitda y-o-y at March 31, 2017, the effects of intense competition in the mobile services segment were particularly evident in Q4, as revenues and reported Ebitda for its India mobile services segment fell 11 per cent and 19 per cent, respectively. The market will witness intense competition over the next one year as the new entrant Reliance Jio Infocomm will aggressively pursue subscriber acquisition, Moody’s said.

(With inputs from FE)

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