 "DIAL, Delhi Airport")
Rating agency Standard and Poor’s (S&P) on Thursday downgraded the long term issuer rating for Delhi International Airport Ltd (DIAL) from “B+” to “B-” due to heightened liquidity risk.
The rating agency said it no longer considers the receipt of commercial property development (CPD) cash flows due to material delays. The company is considering a few options to preserve cash in the absence of CPD money. The options include lease financing.
S&P has kept the ratings on CreditWatch where they were first placed with negative implications on March 20, 2020. The CreditWatch reflects the view that DIAL's capital structure could
