Fitch places Bharti on rating watch negative after top court's ARG ruling

RWN resolution may take over six months as it requires clarity on exact amount and timing of payment of dues and whether govt will provide financial relief to telecom sector

Fitch Ratings has placed Indian telecom service operator Bharti Airtel Ltd’s 'BBB-' Long-Term Foreign-Currency Issuer Default Rating (IDR) on Rating Watch Negative (RWN).

The RWN reflects uncertainty on the amount and timing of unpaid regulatory dues, after the Supreme Court ruled on 24 October in favour of the Department of Telecommunication (DoT)'s definition of adjusted gross revenue (AGR).