Fitch downgrades DIAL's long term debt with outlook negative
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NEW DELHI :
Rating Agency Fitch on Monday downgraded Delhi International Airport Ltd's (DIAL) long-term issue rating on its senior unsecured notes to 'BB' from 'BB+', while labelling the joint venture's outlook as negative due to significant travel restrictions put in place to curb the spread of the coronavirus.
"The downgrade reflects the sharp drop in DIAL's volume in 2020 due to significant travel restrictions to curb the spread of the coronavirus. Fitch expects the recovery in traffic volumes to be prolonged," the rating agency said in a statement.