|
Fitch affirms Bharti's ratings at 'BBB-' with stable outlook
![IndiaTimes]()
Friday, 10 November 2023
Fitch Ratings has affirmed the Long-Term Foreign-Currency Issuer Default Rating (IDR) and senior unsecured rating of Bharti Airtel at 'BBB-', with a Stable Outlook. Fitch expects Bharti's EBITDA net leverage to improve and foresees a decrease to around 1.2x by FY24 and 1.0x by FY25. The agency also anticipates a deceleration in consolidated EBITDA growth in FY24, but a recovery in FY25. Bharti's role in the Indian wireless and African markets provides a solid foundation for its credit position. However, slower 5G adoption and competitive uncertainties remain potential challenges.
|
|
Friday, 10 November 2023
