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Covid-19: Rating agency Moody's downgrades DIAL's corporate rating

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Moody's on Friday said it has downgraded Delhi International Airport Limited's (DIAL) corporate family rating (CFR) and senior secured ratings to B1 from Ba3, taking into account the adverse impact of covid-19 pandemic on air passenger traffic.

The outlook is negative, the rating agency said.B1 credit rating by Moody's is considered high credit risk, while Ba3 rating is considered a significant credit risk."The rating downgrade reflects the adverse impact of reduced passenger traffic and airport revenue in the current fiscal year ending March 2022, due to the surge in daily infection numbers since late March," said Spencer Ng, vice president and senior analyst at Moody's."We believe the consequent reduction in revenue will lead to an.

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