Fitch affirms Bharti Airtel

Fitch Ratings said it affirmed Bharti Airtel Ltd.'s long-term foreign-currency issuer default rating at BBB- and removed it from Rating Watch negative.

The outlook is stable.

Fitch said it expects that Bharti will maintain its consolidated credit profile commensurate with the BBB rating category, despite the $8.5 billion debt-led acquisition of the Zain group's African operations in 15 countries.

The agency said it remains cautious over the intense price competition in India's over-crowded wireless market, which has led to a recent steep decline in Bharti's average revenue per user.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.