SINGAPORE: Moody's Investors Service has downgraded Delhi International Airport Ltd's (DIAL's) corporate family rating and senior secured ratings to B1
Moody's Investors Service has downgraded Delhi International Airport Ltd's (DIAL's) corporate family rating and senior secured ratings to B1 from Ba3. It has also downgraded DIAL's baseline credit assessment to b1 from ba3.
Read more about Moody s downgrades Delhi International Airport ratings to B1 from Ba3 on Business Standard. Moody s Investors Service has downgraded Delhi International Airport Ltd s (DIAL s) corporate family rating and senior secured ratings to B1 from Ba3.
Read more about Moody s downgrades Delhi International Airport rating following Covid surge on Business Standard. Outlook negative; Moody s says reduction in revenue will lead to additional debt being required to complete the airport s expansion
DIAL completes NCDs of Rs 3,275 cr ANI | Updated: Apr 01, 2021 10:53 IST
New Delhi [India], April 1 (ANI): Delhi International Airport Ltd (DIAL) said on Thursday it recently completed the issuance of non-convertible debentures (NCDs) for Rs 3,257 crore.
The NCDs have been priced at interest rate of 10.96 per cent per annum and have been subscribed by Cliffton Ltd, a foreign portfolio investor registered under the Securities and Exchange Board of India (SEBI).
The proceeds from NCDs will be utilised to refinance the outstanding debt of 289 million dollars (about Rs 2,100 crore) due in FY22 and to partly finance the phase 3A expansion. This shows the confidence of investor in our ability to raise funds from international market and reflects our continued effort to create value for our investors, said Grandhi Kiran Kumar, Corporate Chairman of GMR Group.