Fitch assigns Bharti Airtel notes BBB-

Fitch Ratings said it assigned Bharti Airtel International (Netherlands) BV's €250 million 4% senior unsecured notes due 2018 a rating of BBB-.

The notes are unconditionally and irrevocably guaranteed by India's Bharti Airtel Ltd. (BBB-/stable) and are therefore rated at the same level as Bharti's foreign-currency senior unsecured rating of BBB-.

Bharti will use all the proceeds from the notes issue to refinance its existing debt. The terms and conditions of the proposed bond are materially the same as Bharti's existing guaranteed bond of €750 million due 2018 and $1.5 billion due 2023.

The notes rank pari passu with the issuer's and guarantor's existing and future senior unsecured debt.

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