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Fitch claims Bharti Airtel to “Bbb-”;  Negative outlook


Fitch Ratings has confirmed Bharti Airtel’s long-term foreign currency issuer default rating (IDR) and senior unsecured rating of “BBB-”. The outlook for IDR is negative, Fitch Ratings said in a statement. Fitch also confirmed the senior unsecured secured bonds of Bharti Airtel International (Netherlands) BV at “BBB-” and the perpetual subordinated bonds of Network i2i Limited at “BB”.

“The negative outlook does not reflect our view on Bharti’s underlying credit profile – which has improved thanks to strong growth in Indian and African wireless operations – but rather the increased likelihood that the country cap will India’s (BBB- / negative) from ‘BBB-‘ could be lowered to ‘BB +’, “the statement said. “Such action would limit Bharti’s IDR and senior ratings to BB +,” he added.

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Fitch confirmed Bharti Airtel’s long-term foreign currency IDR and senior unsecured rating of “BBB-“, the release said.

First publication: STI


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