Fitch Ratings has affirmed India-based Bharti Airtel Limited’s (Bharti) Long-Term Foreign-Currency Issuer Default Rating (IDR) and senior unsecured rating at ‘BBB-‘. The Outlook on the IDR is Negative. The agency has also affirmed Bharti Airtel International (Netherlands) B.V.’s senior unsecured guaranteed bonds at ‘BBB-‘ and Network i2i Limited’s subordinated perpetual bond at ‘BB’.
Network i2i’s subordinated perpetual note is rated two notches below Bharti’s IDR. This reflects the notes’ deeply subordinated nature, ranking junior to all existing and future debt obligations and senior only to Bharti’s ordinary shares. This approach is in accordance with Fitch’s Corporate Hybrids Treatment and Notching Criteria.
The prices of major food items, such as bags of beans, pepper, tomatoes, eggs amongst others have witnessed a significant surge in Lagos State markets, while the price of local and foreign rice record a slight decrease.
This is according to the latest market survey, carried out by Nairalytics Research – the research arm of Nairametrics.
According to the report, a big bag of brown beans that was initially sold for an average of N33,500, rose by 3.7% to sell for an average of N34,750. Also, the price of a big bag of honey beans increased by 7.02% to sell for an average of N24,750.