GHIAL, DIAL, BIAL’s proposed bank facilities on Rating Watch Negative
India Ratings (Ind-Ra) has placed the proposed bank facilities of GMR Hyderabad International Airport Ltd (GHIAL), Delhi International Airport Ltd (DIAL) and Bengaluru International Airport Ltd (BIAL) on Rating Watch Negative (RWN).
All the three major international airports have started phase II expansion.
The RWN reflects the uncertainty regarding the impact on passenger traffic due to visa curbs, the complete embargo on international flights from March 22, and the reduction in domestic travel due to the Covid-19 outbreak.
While stating that the outlook is stable, the rating agency said it is provisional and shall be confirmed upon the execution of loan documents. Ind-Ra will monitor the effect of the same on GHIAL’s cash flows and liquidity.
