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DIAL has a large expansion plan over the next four years with a total cost of Rs 9,800 crore
Fitch downgrades Delhi Airport to BB with negative outlook ANI | Updated: Jan 18, 2021 13:15 IST
Singapore, Jan 18 (ANI): Fitch Ratings said on Monday it has downgraded Delhi International Airport Ltd s (DIAL s) long-term issuer default rating (IDR) and the ratings on its outstanding senior unsecured notes to BB from BB-plus.
Fitch said it expects the recovery in traffic volumes to be prolonged. Weaker earnings and moderately flexible capex payments result in DIAL s projected average Fitch-adjusted net debt/EBITDAR (earnings before interest, taxes, depreciation, amortisation and restructuring or rent costs) increasing to 10 times.