Fitch attributes watch negative rating to Bharti Airtel

NEW DELHI: Fitch Ratings Wednesday placed Sunil Mittal-driven Bharti Airtel’s ‘BBB’ long-term foreign-currency issuer default rating (IDR) on rating watch negative (RWN) list, following the top court’s ruling last week.

“The agency has also placed Bharti’s and Bharti Airtel International (Netherlands) BV’s senior unsecured bonds and Network i2i’s subordinated perpetual bond’s under RWN,” it said in a statement.

The US-based credit ratings firm’s RWN reflects uncertainty on the amount and timing of unpaid regulatory dues.