Fitch downgrades Delhi Airport citing travel restrictions
SECTIONS
Share
Synopsis
The second wave of the virus has resulted in weakened air traffic performance. DIAL's passenger traffic in May this year was just about 19% in the corresponding period in 2019 level, when it was not hit by the pandemic.
PTI
Related
Global rating company Fitch has downgraded GMR-backed Delhi International Airport Limited's (DIAL) by a notch further down in the non-investment category citing COVID-19 related travel restrictions that will likely cut revenues with reducing air traffic. The outlook has also been revised to negative from positive earlier.
The rating grade is now at BB- versus BB earlier in the high-yield segment.