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Bharti Airtel signs for over $2 bn loan as ratings downgrade threat looms

A price war for Indian customers has worsened since billionaire Mukesh Ambani's Reliance Jio Infocomm Ltd. debuted with free services in 2016

Airtel

Bharti Airtel Ltd. is raising more than $2 billion in loans from banks, as India’s second-biggest wireless carrier faces increased competition at home and the threat of a ratings downgrade to junk. The company, controlled by billionaire Sunil Bharti Mittal, has agreed to two- and three-year bilateral loans with 10 to 12 lenders, according to people with knowledge of the matter, who are not authorized to speak publicly and asked not to be identified. Moody’s Investors Service on Nov. 8 put Bharti’s Baa3 rating, its lowest investment-grade evaluation, on review for ...