S&P gives Bharti Airtel notes BBB-

S&P Global Ratings today gave its BBB- long-term issue rating to the senior unsecured notes Bharti Airtel Ltd. plans to issue. Simultaneously, the agency assigned a BB long-term issue rating to the planned subordinated perpetual securities issued by Network i2i Ltd. and guaranteed by Bharti Airtel.

S&P’s issuer credit rating for Bharti Airtel is BBB-. The issue rating on the proposed perpetual securities is in line with S&P’s BB rating on previously issued securities.

Bharti Airtel will use the proceeds for capital expenditure, repayment of debt or any other purpose as allowed by regulations.

The outlook is negative.

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