Bharti Airtel Ltd.

Moody's Investors Service has downgraded the credit rating of Bharti Airtel Ba1 from Baa3 the senior unsecured rating. As well as backed senior unsecured notes issued by the company's Africa arm on account of uncertainty around the company's profitability, cash flow situations and debt levels.

Credit ratings reflect the company's ability to repay debt and raise funds. Ratings range between Aaa, which means best, to lowest category C. Ba1 rating means obligations are judged to have speculative elements and are subject to substantial credit risk, but have a superior ability to repay short-term debt obligations. Moody's has also assigned a Ba1 corporate family rating (CFR) to the company and withdrawn the company's Baa3 issuer rating. The ratings outlook is negative.

Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.