INSUBCONTINENT EXCLUSIVE:
ETMarkets.com|Nov 09, 2018, 09.46 AM IST'Baa3' is the lowest investment-grade bond ratings, and any downgrade would put the rating in
speculative grade.Shares of Bharti Airtel slipped over 5 per cent in early trade on Friday after Moody's Investors Service placed the
telecom major’s rating on review for downgrade, following low levels of profitability and expectation of weak cash flow.Moody’s has
placed on review for downgrade the 'Baa3' issuer and senior unsecured rating of Bharti Airtel and the ratings on the backed senior unsecured
notes issued by Bharti's wholly-owned subsidiary, Bharti Airtel International (Netherlands) BV, according to PTI.
'Baa3' is the lowest
investment-grade bond ratings, and any downgrade would put the rating in speculative grade.The scrip was trading 5.21 per cent down at Rs
290 in early trade on BSE.Last month, the telecom major posted a fall in consolidated net profit for the tenth straight quarter as losses on
mainstay India business widened due to pricing pressure from aggressive competition.Overall, the consolidated net profit of Rs 118.8 crore
in July-September represented a drop of about 65 per cent from Rs 343 crore in the year-ago period, according to a company
statement.
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