Telecom spectrum auctions credit neutral for Reliance Jio, Bharti Airtel

"The acquisition of spectrum by Reliance Jio Infocomm (RJio) and Bharti Airtel in recently-concluded 4G spectrum auction will not impact their financial and credit profiles, India Ratings and Research (Ind-Ra) said on Friday.
Ind-Ra rates RJio at AAA with stable outlook and Bharti’s debt at A1-plus. The agency believes both RJio and Bharti have strong financial flexibility to make immediate upfront payment (RJio ₹19,900 crore and Bharti ₹7,000 crore) and adequate cash flow buffers to cover yearly spectrum payments FY24 onwards."

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