India Ratings and Research has downgraded GMR Hyderabad International Airport Ltd's Rs 798 crore secured project bank loan, following a regulatory order that barred collection of user development fee (UDF). It has been lowered to 'IND BBB+' from 'IND A-', besides placing the rating on 'Rating Watch Negative' (RWN). Ind-Ra said the downgrade reflects the negative impact on GHIAL's credit profile after the Airport Economic Regulatory Authority's order which disallowed UDF at the Rajiv Gandhi International Airport for the rest of the control period ending 31 March 2016.
14/05/14 Moneycontrol.com
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14/05/14 Moneycontrol.com
