Fitch confirms Bharti Airtel in ‘BBB-‘; attitude negative

Fitch confirms Bharti Airtel in ‘BBB-‘; attitude negative

Fitch Ratings has confirmed Bharti Airtel’s long-term foreign currency issuer default rating (IDR) and senior unsecured rating at ‘BBB-‘.

Fitch Ratings said in a statement, “The outlook on IDR is negative.

Fitch has also ratified the Senior Unsecured Guarantee Bond of ‘BBB-‘ of Bharti Airtel International (Netherlands) BV and Perpetual Bond under ‘BB’ under Network i2i Limited.

“The negative outlook does not reflect our view of Bharti’s underlying credit profile – which is improving on strong growth in Indian and African wireless operations – but rather increases the likelihood that India’s (BBB-/negative) country may be ‘BBB-‘. Reduced to ‘BB+’,” the statement said.

“Such action will limit Bharti’s IDR and senior issue rating to BB+,” it said.

Fitch has confirmed Bharti Airtel’s long-term foreign exchange IDR and senior unsecured rating on ‘BBB-‘, the statement said.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is generated automatically from a syndicated feed.)

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