Fitch views Delhi Airport positively

Fitch Ratings said it revised its outlook for Delhi International Airport Ltd. to positive from stable and affirmed the BB- ratings on the airport and its senior secured notes. The agency also affirmed the B+ rating on India Airport Infra’s senior secured notes.

“The positive outlook is based on Fitch's expectation that DIAL's deleveraging will pick up in the next 18-24 months after it completes its current capex cycle. The reduction in leverage will be supported by growth in passenger traffic, resolution of key pending regulatory issues and a tariff hike that we expect to be delayed by 12 months,” Fitch said in a press release.

The agency said it expects the airport’s FY24 passenger traffic to hit 71 million, topping the pre-pandemic high of 69.2 million.

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