{"id":420039,"date":"2021-06-14T08:26:47","date_gmt":"2021-06-14T02:56:47","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=420039"},"modified":"2021-06-14T08:37:57","modified_gmt":"2021-06-14T03:07:57","slug":"moodys-downgrades-delhi-international-airport-rating-following-covid-surge","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/moodys-downgrades-delhi-international-airport-rating-following-covid-surge\/","title":{"rendered":"Moody&#8217;s downgrades Delhi International Airport rating following Covid surge"},"content":{"rendered":"<p>Rating agency Moody&#8217;s today downgraded Delhi International Airport Ltd&#8217;s (DIAL) corporate family rating (CFR) from \u201cBa3\u201d to \u201cB1\u201d, reflecting the adverse impact of reduced passenger traffic and airport revenue in FY22 following a surge in Covid-19 cases.<\/p>\n<p>The senior secured ratings were downgraded from \u201cBa3\u201d to \u201cB1\u201d. At the same time, Moody&#8217;s downgraded Cliffton Ltd&#8217;s senior secured bond rating to \u201cBa3\u201d to \u201cB1\u201d. <\/p>\n<p>The outlook on the ratings is negative.<\/p>\n<p>Moody&#8217;s in a statement said the consequent reduction in revenue will lead to additional debt being required to complete the airport&#8217;s expansion. It will prolong the recovery in DIAL&#8217;s financial metrics to a level consistent with a \u201cBa\u201d rating.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rating agency Moody&#8217;s today downgraded Delhi International Airport Ltd&#8217;s (DIAL) corporate family rating (CFR) from \u201cBa3\u201d to \u201cB1\u201d, reflecting the adverse impact of reduced passenger traffic and airport revenue in FY22 following a surge in Covid-19 cases. The senior secured ratings were downgraded from \u201cBa3\u201d to \u201cB1\u201d. At the same time, Moody&#8217;s downgraded Cliffton Ltd&#8217;s senior secured bond rating to \u201cBa3\u201d to \u201cB1\u201d. The outlook on the ratings is negative. Moody&#8217;s in a statement said the consequent reduction in revenue will lead to additional debt being required to complete the airport&#8217;s expansion. It will prolong the recovery in DIAL&#8217;s financial [&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-420039","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\/420039","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=420039"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/420039\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=420039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=420039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=420039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}