\"\"
<\/span><\/figcaption><\/figure>Kolkata: Moody<\/a>’s Investor Service has affirmed Bharti Airtel<\/a>’s Ba1 corporate family rating (CFR<\/a>) and revised the outlook to `stable’ from `negative,’ following clarity around adjusted gross revenue (AGR) dues payment timelines and improved profitability of the Sunil Mittal-led telco’s India mobile services business.

The global ratings agency said
Airtel<\/a>’s core India mobile business has benefited from a combination of reduced competition, steady 4G customer adds and tariff hikes taken last December.

“The ratings affirmation and change in outlook to stable reflect improving profitability at Bharti's core Indian mobile business, because of a moderation in
industry<\/a> competition, an increase in its 4G customer base, and a tariff hike from December 2019,” Annalisa DiChiara, Moody’s senior vice president, said in a media statement Friday.

Staggered payment resolution related to AGR liabilities, she said, “is a positive development,” adding that Airtel’s operating flexibility is improving and that the telco would benefit from a gradual expansion of profitability that provides a buffer against any material deterioration in credit measures and also supports a steady deleveraging.

Moody’s said the staggered AGR payment plan would alleviate pressure on Airtel’s cash flow, which means some of the proceeds Bharti raised earlier this year to fund AGR dues, can instead be applied to debt reduction. “And according to the (Bharti) management, this is already underway.”

Airtel shares closed 1.19% lower at Rs 491.65 on BSE Friday.

Earlier this month, the nation’s top court gave telcos 10 years to pay their balance AGR dues. Airtel pending AGR liabilities are at Rs 25,976 crore.

The telco had reported a consolidated net loss of Rs 15,933 crore in the June quarter, mainly due to one-time expenses related to its AGR dues. But its India mobile services operation continued its recovery, with average revenue per user (ARPU) rising for the fifth straight quarter to Rs 157 even though net 4G user adds slowed down amid the Covid crisis.

Read also<\/h4>
<\/a><\/figure>
Airtel partners with VOOT to bring premium digital content on the Xstream platform<\/a><\/h5><\/div>
<\/a><\/figure>
Trai chairman backs Airtel, Vodafone Idea; says 2G relevant for India<\/a><\/h5><\/div><\/div><\/div>Moody’s also affirmed Airtel’s senior unsecured rating and backed the senior unsecured notes issued by Bharti's arm, Bharti Airtel International (Netherlands) B.V.

The ratings agency expects “Airtel’s consolidated Ebitda to gradually rise into the Rs 425 billion range,” which it said, would keep its consolidated leverage -- as measured by debt\/EBITDA -- elevated at around 4-4.25x in March 2021. But it pointed out that around 30%-35% of Bharti's reported debt levels are spectrum liabilities which are not exposed to refinancing risks.

Moody's added it could upgrade Bharti's ratings if the telco’s operating performance improves such that its consolidated leverage is sustained below 2.5x,” which needs to be achieved in conjunction with a material expansion in profitability at its core Indian mobile business.

Competition in the Indian mobile segment, the agency said, had eased over the last nine months as price wars following Reliance
Jio<\/a>’s entry four years ago had subsided. But it noted that the pandemic had caused around a 1-2% subscriber contraction over the past few months, which had amplified the impact of a natural attrition of subscribers due to SIM card consolidation following last December’s tariff hikes.

But an increase in the composition of Airtel’s 4G customers, which comprised nearly 50% of its Indian mobile subscriber base in June 2020, is helping to stabilise profitability, Moody’s added.

<\/body>","next_sibling":[{"msid":78060796,"title":"MediaTek to unveil ARM chips for Chromebooks next year: Report","entity_type":"ARTICLE","link":"\/news\/mediatek-to-unveil-arm-chips-for-chromebooks-next-year-report\/78060796","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[{"msid":"66880910","title":"Minimum recharge: Here is why Airtel, Vodafone Idea could lose 60 million subscribers","entity_type":"PHOTOGALLERYSLIDESHOWSECTION","seopath":"slide-shows\/minimum-recharge-here-is-why-airtel-vodafone-idea-could-lose-60-million-subscribers","category_name":"Slide-Shows","synopsis":"Indian telecom industry could lose up to 60 million subscribers in the next six months as incumbents Vodafone Idea and Bharti Airtel aggressively push their prepaid customers to opt for minimum recharge plans. These latest packs have laid a platform on pricing i.e. almost at par with Reliance Jio's minimum tariff plan. ","thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-1278338\/66880910.cms?width=150&height=112","link":"\/slide-shows\/minimum-recharge-here-is-why-airtel-vodafone-idea-could-lose-60-million-subscribers\/66880910"}],"msid":78061423,"entity_type":"ARTICLE","title":"Moody's revises Airtel ratings outlook to 'stable' from 'negative'","synopsis":"Moody\u2019s Investor Service has affirmed Bharti Airtel\u2019s Ba1 corporate family rating (CFR) and revised the outlook to `stable\u2019 from `negative,\u2019 following clarity around adjusted gross revenue (AGR) dues payment timelines and improved profitability of the Sunil Mittal-led telco\u2019s India mobile services business.","titleseo":"telecomnews\/moodys-revises-airtel-ratings-outlook-to-stable-from-negative","status":"ACTIVE","authors":[],"analytics":{"comments":0,"views":3153,"shares":0,"engagementtimems":11236000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2020-09-11 19:23:23","lastupd":"2020-09-11 19:24:44","breadcrumbTags":["Airtel","airtel reviews","Jio","airtel news","moody","Industry","Subscriber identity module","bharti airtel","CFR"],"secinfo":{"seolocation":"telecomnews\/moodys-revises-airtel-ratings-outlook-to-stable-from-negative"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2020-09-11" data-index="article_1">

穆迪修正Airtel评级展望从“稳定”“负面”

穆迪投资者服务公司已经确认Bharti Airtel Ba1的企业家庭评级(CFR)和修订后的前景从“稳定”的消极,清晰在调整后总收入(AGR)会费支付时间和提高盈利能力的苏尼尔Mittal-led电信的印度移动服务业务。

  • 更新2020年9月11日07:24点坚持
阅读: 100年行业专业人士
读者的形象读到100年行业专业人士
加尔各答:喜怒无常的投资服务公司已确认Bharti Airtel企业家族Ba1评级(病死率),修改后的前景从“稳定”的消极,清晰在调整后总收入(AGR)会费支付时间和提高盈利能力的苏尼尔Mittal-led电信的印度移动服务业务。

全球评级机构说附近的旅馆核心的印度移动业务受益的结合减少竞争,稳定4 g客户去年12月补充说,关税上涨。

“评级前景肯定和变化稳定反映改善印度Bharti的核心移动业务盈利能力,因为适度的行业竞争,其4 g的客户群,增加和提高关税从2019年12月,“Annalisa DiChiara,穆迪(Moody’s)高级副总裁,在一个媒体声明中说。

广告
AGR交错付款解决相关负债,她说,“是一个积极的发展,”并称Airtel操作灵活性提高,电信将受益于盈利能力的逐步扩张,它提供了一个缓冲任何材料恶化的信贷措施,还支持一个稳定的去杠杆化。

穆迪说,交错AGR付款计划将缓解压力Airtel的现金流,这意味着一些今年早些时候提出的,Bharti基金AGR费,可以适用于削减债务。”,根据(Bharti)管理,这已经开始。”

Airtel股价收低1.19%,报491.65 Rs疯牛病周五。

本月早些时候,国家的最高法院给电信公司10年AGR会费支付平衡。Airtel等待AGR负债是25976卢比。

电信已经合并报告6月季度净亏损15933卢比,主要是因为一次性费用AGR费。但它的印度移动服务操作继续复苏,每用户平均收入(ARPU)连续第五个季度上升Rs 157尽管净4 g用户放缓Covid危机期间补充道。

读也

穆迪还确认了Airtel的高级无担保评级和支持高级无担保票据签发Bharti的手臂,Bharti Airtel国际(荷兰)容积

广告
评级机构预计“Airtel合并Ebitda逐步上升到Rs 4250亿范围内,”它说,将其综合利用——以债务/ Ebitda升高大约在2021年3月4 - 4.25 x。但它指出,大约30% -35%的Bharti的报告债务水平谱负债不暴露于再融资风险。

穆迪补充说它可以升级Bharti的评级如果电信的经营业绩改善,其综合利用持续低于2.5 x,”,需要结合材料实现扩张印度移动业务盈利能力的核心。

印度移动市场竞争,该机构说,已经缓解了在过去的九个月后,价格战的依赖Jio四年前的条目已渐渐消退。但它指出,大流行造成了约1 - 2%订户收缩在过去的几个月里,放大的影响自然减员的用户由于去年12月SIM卡整合后的关税上调。

但增加的复合Airtel的4 g的客户,由近50%的印度移动用户数在2020年6月,有助于稳定盈利,穆迪说。

  • 发布于2020年9月11日07:23点坚持
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\"\"
<\/span><\/figcaption><\/figure>Kolkata: Moody<\/a>’s Investor Service has affirmed Bharti Airtel<\/a>’s Ba1 corporate family rating (CFR<\/a>) and revised the outlook to `stable’ from `negative,’ following clarity around adjusted gross revenue (AGR) dues payment timelines and improved profitability of the Sunil Mittal-led telco’s India mobile services business.

The global ratings agency said
Airtel<\/a>’s core India mobile business has benefited from a combination of reduced competition, steady 4G customer adds and tariff hikes taken last December.

“The ratings affirmation and change in outlook to stable reflect improving profitability at Bharti's core Indian mobile business, because of a moderation in
industry<\/a> competition, an increase in its 4G customer base, and a tariff hike from December 2019,” Annalisa DiChiara, Moody’s senior vice president, said in a media statement Friday.

Staggered payment resolution related to AGR liabilities, she said, “is a positive development,” adding that Airtel’s operating flexibility is improving and that the telco would benefit from a gradual expansion of profitability that provides a buffer against any material deterioration in credit measures and also supports a steady deleveraging.

Moody’s said the staggered AGR payment plan would alleviate pressure on Airtel’s cash flow, which means some of the proceeds Bharti raised earlier this year to fund AGR dues, can instead be applied to debt reduction. “And according to the (Bharti) management, this is already underway.”

Airtel shares closed 1.19% lower at Rs 491.65 on BSE Friday.

Earlier this month, the nation’s top court gave telcos 10 years to pay their balance AGR dues. Airtel pending AGR liabilities are at Rs 25,976 crore.

The telco had reported a consolidated net loss of Rs 15,933 crore in the June quarter, mainly due to one-time expenses related to its AGR dues. But its India mobile services operation continued its recovery, with average revenue per user (ARPU) rising for the fifth straight quarter to Rs 157 even though net 4G user adds slowed down amid the Covid crisis.

Read also<\/h4>
<\/a><\/figure>
Airtel partners with VOOT to bring premium digital content on the Xstream platform<\/a><\/h5><\/div>
<\/a><\/figure>
Trai chairman backs Airtel, Vodafone Idea; says 2G relevant for India<\/a><\/h5><\/div><\/div><\/div>Moody’s also affirmed Airtel’s senior unsecured rating and backed the senior unsecured notes issued by Bharti's arm, Bharti Airtel International (Netherlands) B.V.

The ratings agency expects “Airtel’s consolidated Ebitda to gradually rise into the Rs 425 billion range,” which it said, would keep its consolidated leverage -- as measured by debt\/EBITDA -- elevated at around 4-4.25x in March 2021. But it pointed out that around 30%-35% of Bharti's reported debt levels are spectrum liabilities which are not exposed to refinancing risks.

Moody's added it could upgrade Bharti's ratings if the telco’s operating performance improves such that its consolidated leverage is sustained below 2.5x,” which needs to be achieved in conjunction with a material expansion in profitability at its core Indian mobile business.

Competition in the Indian mobile segment, the agency said, had eased over the last nine months as price wars following Reliance
Jio<\/a>’s entry four years ago had subsided. But it noted that the pandemic had caused around a 1-2% subscriber contraction over the past few months, which had amplified the impact of a natural attrition of subscribers due to SIM card consolidation following last December’s tariff hikes.

But an increase in the composition of Airtel’s 4G customers, which comprised nearly 50% of its Indian mobile subscriber base in June 2020, is helping to stabilise profitability, Moody’s added.

<\/body>","next_sibling":[{"msid":78060796,"title":"MediaTek to unveil ARM chips for Chromebooks next year: Report","entity_type":"ARTICLE","link":"\/news\/mediatek-to-unveil-arm-chips-for-chromebooks-next-year-report\/78060796","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[{"msid":"66880910","title":"Minimum recharge: Here is why Airtel, Vodafone Idea could lose 60 million subscribers","entity_type":"PHOTOGALLERYSLIDESHOWSECTION","seopath":"slide-shows\/minimum-recharge-here-is-why-airtel-vodafone-idea-could-lose-60-million-subscribers","category_name":"Slide-Shows","synopsis":"Indian telecom industry could lose up to 60 million subscribers in the next six months as incumbents Vodafone Idea and Bharti Airtel aggressively push their prepaid customers to opt for minimum recharge plans. These latest packs have laid a platform on pricing i.e. almost at par with Reliance Jio's minimum tariff plan. ","thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-1278338\/66880910.cms?width=150&height=112","link":"\/slide-shows\/minimum-recharge-here-is-why-airtel-vodafone-idea-could-lose-60-million-subscribers\/66880910"}],"msid":78061423,"entity_type":"ARTICLE","title":"Moody's revises Airtel ratings outlook to 'stable' from 'negative'","synopsis":"Moody\u2019s Investor Service has affirmed Bharti Airtel\u2019s Ba1 corporate family rating (CFR) and revised the outlook to `stable\u2019 from `negative,\u2019 following clarity around adjusted gross revenue (AGR) dues payment timelines and improved profitability of the Sunil Mittal-led telco\u2019s India mobile services business.","titleseo":"telecomnews\/moodys-revises-airtel-ratings-outlook-to-stable-from-negative","status":"ACTIVE","authors":[],"analytics":{"comments":0,"views":3153,"shares":0,"engagementtimems":11236000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2020-09-11 19:23:23","lastupd":"2020-09-11 19:24:44","breadcrumbTags":["Airtel","airtel reviews","Jio","airtel news","moody","Industry","Subscriber identity module","bharti airtel","CFR"],"secinfo":{"seolocation":"telecomnews\/moodys-revises-airtel-ratings-outlook-to-stable-from-negative"}}" data-news_link="//www.iser-br.com/news/moodys-revises-airtel-ratings-outlook-to-stable-from-negative/78061423">