AGR impact: S&P keeps Airtel rating on negative watch

NEW DELHI: S&P Global on Thursday kept Bharti Airtel’s rating on watch negative, citing that Rs 34,300 crore AGR setback will decisively weaken the telecom major’s leverage.

As per the Supreme Court verdict, Bharti Airtel will have to pay the amount by January 22, subject to an audit and confirmation from the DoT.

Meanwhile, Bharti Airtel has hiked tariffs by 15-45 per cent effective December 3, which should temper the impact of the court ruling.