{"id":365675,"date":"2020-07-31T10:29:55","date_gmt":"2020-07-31T04:59:55","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=365675"},"modified":"2020-07-31T10:45:58","modified_gmt":"2020-07-31T05:15:58","slug":"icra-reaffirms-indigos-long-term-rating-at-a-plus-with-negative-outlook","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/icra-reaffirms-indigos-long-term-rating-at-a-plus-with-negative-outlook\/","title":{"rendered":"ICRA reaffirms IndiGo&#8217;s long-term rating at A-plus with negative outlook"},"content":{"rendered":"<p>Rating agency ICRA has reaffirmed IndiGo&#8217;s long-term rating at A-plus with a negative outlook but downgraded short-term rating by one notch from A1-plus to A1. <\/p>\n<p>The agency has acknowledged India&#8217;s largest airline&#8217;s strong market position, cost-efficient structure and robust liquidity profile among its peers. <\/p>\n<p>However, it attributed the downgrade of the company&#8217;s short-term rating to the unprecedented disruptions caused by Covid-19 pandemic and its consequential impact on the global and domestic demand for air travel. <\/p>\n<p>While the airline industry is going through an unprecedented crisis, said ICRA, the company&#8217;s balance sheet remains strong. <\/p>\n<p>The company had total cash reserves of Rs 18,450 crore and a free cash reserve of Rs 7,526 crore as on June 30. IndiGo has taken a number of actions to cut costs and is further working on a number of short-term measures to boost its liquidity, said ICRA.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rating agency ICRA has reaffirmed IndiGo&#8217;s long-term rating at A-plus with a negative outlook but downgraded short-term rating by one notch from A1-plus to A1. The agency has acknowledged India&#8217;s largest airline&#8217;s strong market position, cost-efficient structure and robust liquidity profile among its peers. However, it attributed the downgrade of the company&#8217;s short-term rating to the unprecedented disruptions caused by Covid-19 pandemic and its consequential impact on the global and domestic demand for air travel. While the airline industry is going through an unprecedented crisis, said ICRA, the company&#8217;s balance sheet remains strong. The company had total cash reserves of [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,167,130],"tags":[],"class_list":["post-365675","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-civil-aviation-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=365675"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365675\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=365675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=365675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=365675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}