Fitch revises Bharti outlook to stable

Fitch Ratings said it changed the outlook on Bharti Airtel Ltd.'s long-term foreign-currency issuer default rating to stable from negative and affirmed the rating and the senior unsecured bond rating at BBB-. The agency also affirmed Bharti Airtel International (Netherlands) BV's senior unsecured guaranteed bonds at BBB- and Network i2i Ltd.'s subordinated perpetual bonds at BB.

“The stable outlook follows the revision in the outlook on India's long-term foreign- and local-currency idrs to stable from negative on June 10, 2022. Bharti's FC ratings are not directly constrained by India's sovereign rating, but cannot exceed the country ceiling (BBB-), which reflects the transfer and convertibility risks associated with FC obligations,” Fitch said in a press release.

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