S&P cuts Delhi airport

S&P said it downgraded the ratings on Delhi International Airport and its senior secured notes to BB- from BB.

“We downgraded DIAL because in our view the company's cash flows are likely to remain weak for the next two years, at least, because of lower passenger volumes as a result of the Covid-19 outbreak. We believe that travel restrictions and social distancing measures in India and abroad will result in lower-traffic demand,” said S&P in a press release.

S&P kept the ratings on CreditWatch with negative implications.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.