S&P Global Ratings

Bharti Airtel has received an upward revision in its credit rating from S&P Global Ratings, reflecting the telecom major’s sustained earnings momentum and strengthening financial profile. The upgrade follows consistent improvements in operating income, expanding average revenue per user (ARPU), and disciplined capital management across its India and Africa businesses. With a robust subscriber base, ongoing digital expansion, and steady deleveraging, Airtel has reinforced investor confidence at a time when the telecommunications industry is undergoing rapid technological transformation.

Despite ongoing geopolitical volatility in the Middle East, India’s macroeconomic fundamentals remain relatively insulated, according to S&P Global Ratings. The agency noted that lower global energy prices, compared to 2023 levels, are acting as a key stabilizing factor for both inflation and the rupee. While some volatility in currency and current account outflows is possible due to elevated oil prices and global risk aversion, S&P expects average inflation in 2025 to moderate to 4%, with the rupee weakening only marginally.