Hyderabad: Standard & Poor's Ratings Services has assigned a 'BB' long-term corporate credit rating to Delhi International Airport Ltd with a 'stable outlook'.
The global rating agency also assigned its 'BB' long-term issue rating to GMR Group's proposed US dollar-denominated senior secured notes.
According to S&P, 'BB' is less vulnerable to nonpayment than other speculative issues.
However, it faces major ongoing uncertainties or exposure to adverse business, financial, or economic conditions which could lead to the obligor's inadequate capacity to meet its financial commitment on the obligation.
"The rating reflects our expectation that DIAL's cash flow adequacy will be weak for the next 18 months as tariffs are re-set," Standard & Poor's credit analyst Mehul Sukkawala said.
16/01/15 PTI/NDTV
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The global rating agency also assigned its 'BB' long-term issue rating to GMR Group's proposed US dollar-denominated senior secured notes.
According to S&P, 'BB' is less vulnerable to nonpayment than other speculative issues.
However, it faces major ongoing uncertainties or exposure to adverse business, financial, or economic conditions which could lead to the obligor's inadequate capacity to meet its financial commitment on the obligation.
"The rating reflects our expectation that DIAL's cash flow adequacy will be weak for the next 18 months as tariffs are re-set," Standard & Poor's credit analyst Mehul Sukkawala said.
16/01/15 PTI/NDTV
