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.
Fitch confirmed Bharti Airtel’s long-term foreign currency IDR and senior unsecured rating of “BBB-“, the release said.
First publication: STI
Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.