Fitch affirms Bharti

Fitch Ratings said it affirmed Bharti Airtel Ltd.'s long-term foreign currency issuer default rating at BBB-.

The outlook is negative.

The negative outlook reflects Bharti's exposure to adverse regulatory changes in India that could result in higher-than-expected cash outflows compared with Fitch's base case expectations, the agency said.

This is despite Bharti's ability to organically improve its balance sheet due to growing Indian and African operations, Fitch noted.

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