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Fitch affirms Bharti Airtel at 'BBB-'; outlook negative

Fitch has also affirmed Bharti Airtel International (Netherlands) BV's senior unsecured guaranteed bonds at 'BBB-' and Network i2i Limited's subordinated perpetual bond at 'BB'

Topics
Fitch Ratings | Airtel

Press Trust of India  |  New Delhi 

bharti airtel

has affirmed Bharti Airtel's long-term foreign currency Issuer Default Rating (IDR) and senior unsecured rating at 'BBB-'.

The outlook on the IDR is negative, said in a statement.

Fitch has also affirmed Bharti International (Netherlands) BV's senior unsecured guaranteed bonds at 'BBB-' and Network i2i Limited's subordinated perpetual bond at 'BB'.

"The negative outlook does not reflect our view of Bharti's underlying credit profile - which has been improving on strong growth in Indian and African wireless operations - but rather the heightened probability that India's (BBB-/Negative) Country Ceiling of 'BBB-' could be lowered to 'BB+'," the statement said.

"Such an action would constrain Bharti's IDR and senior issue ratings to BB+," it added.

Fitch has affirmed Bharti Airtel's long-term foreign currency IDR and senior unsecured rating at 'BBB-', the statement noted.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, November 25 2021. 20:38 IST
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