Bharti Airtel Ltd.

Credit rating agency – Fitch Ratings has affirmed Bharti Airtel's long-term foreign currency Issuer Default Rating (IDR) and senior unsecured rating at 'BBB-'. The outlook on the IDR is negative. Fitch has also affirmed Bharti Airtel International (Netherlands) BV's senior unsecured guaranteed bonds at 'BBB-'.

The negative outlook does not reflect view of Bharti's underlying credit profile - which has been improving on strong growth in Indian and African wireless operations - but rather the heightened probability that India's (BBB-/Negative) Country Ceiling of 'BBB-' could be lowered to 'BB+'.

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