Recovery in Bharti Airtel's India ops remain crucial, stake sale in Africa arm will reduce debt:S&P
Despite the reduction in leverage, S&P said it continues to see risk of a downgrade if the business performance of Bharti does not improve in line with our expectation over the next 12-18 months, such that the ratio of funds from operations to debt remains below 20 per cent, it said.
S&P said it expects the company's India wireless business to stabilise and return to growth over the next 12-18 months. Image source: Reuters