Financial Daily from THE HINDU group of publications
Thursday, Oct 16, 2003
Financial Daily from THE HINDU group of publications Thursday, Oct 16, 2003 |
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Info-Tech
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Telecommunications Bharti Tele's CP programme gets P1+ Our Bureau
Mumbai , Oct. 15 BHARTI Tele-Ventures (BTVL) has received the highest rating of `P1plus' from Crisil for its Rs 100-crore commercial paper programme. The rating reflects BTVL subsidiary Bharti Cellular's continuing profitability in the cellular business despite intense competition and declining average revenue per user levels, said a news release from the rating agency. Bharti Cellular contributes around 63 per cent of BTVL's revenues with subsidiary Bharti Infotel (basic services and long distance and other value-added services provider) contributing the rest. Crisil said it had applied its consolidated rating methodology in assessing BTVL's credit profile. The improvement in BTVL's financial profile is evident in its results for the first quarter of 2003-04.
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