Fitch revises Delhi International to stable

Fitch Ratings said it revised the outlook on Delhi International Airport Ltd.'s long-term issuer default rating and the ratings on the senior secured notes and India Airport Infra's $450 million of 6¼% senior secured notes to stable from negative and affirmed the ratings at BB-.

“The outlook revision is supported by financial headroom available for DIAL at the current rating level, driven by the continuing recovery in domestic passenger traffic, expected regulated return on capex and receipt of phase III revenue from a commercial property development being developed by Bharti Realty at the airport. The headroom enables DIAL to withstand even an unfavorable arbitration outcome if it is required to make disputed revenue share payments on staggered basis,” the agency said in a press release.

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