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Fitch affirms DIAL's long-term bond rating at BB+ with negative outlook

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New Delhi: Fitch Ratings on Tuesday affirmed Delhi International Airport Limited's (DIAL) long-term issuer default rating (IDR) and bond issue ratings at 'BB+' with a negative outlook. "The negative outlook reflects the ongoing uncertainty over the timing and duration of the traffic shock and recovery triggered by the coronavirus pandemic," the rating agency said in a statement. "A prolonged pandemic and nationwide lockdown, and further deterioration in the economy will reduce air passenger traffic, leading to lower aeronautical and non-aeronautical revenue," it added.

According to Fitch, 'BB' ratings indicate an elevated vulnerability to default risk, particularly in the event of adverse changes in business or economic conditions over

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