 "Fitch Ratings")
Fitch Ratings has revised the outlook on Bharti Airtel's Long-Term Foreign-Currency (FC) Issuer Default Rating (IDR) to negative from stable, affirming it at 'BBB-'.
The rating agency said the outlook change is sovereign-driven, and that projected that Bharti's 2020-21 revenue and Ebitda (earnings before interest, taxes, depreciation, and amortisation) will remain robust, fuelled by improvement in the Indian wireless market and continued growth momentum in African markets, despite the effect of the coronavirus pandemic.
Fitch, last week, lowered India's sovereign rating outlook to 'negative' from 'stable', saying the coronavirus pandemic has significantly weakened the country's growth outlook. It, however, retained
