Business Standard

ICRA reaffirms IndiGo's long-term rating at A-plus with negative outlook

Agency acknowledges India's largest airline's strong market position, cost-efficient structure and robust liquidity profile among its peers

indigo, airlines, aviation, flights, air craft
Premium

While the airline industry is going through an unprecedented crisis, said ICRA, the company's balance sheet remains strong.

ANI
Rating agency ICRA has reaffirmed IndiGo'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's largest airline's strong market position, cost-efficient structure and robust liquidity profile among its peers.
However, it attributed the downgrade of the company'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's balance sheet remains strong.
The company had total cash reserves of Rs 18,450 crore and

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 30 2020 | 1:44 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com