by Amruth Sundarkumar | Apr 29, 2022 | Corporates, Credit Ratings, India
Standard Chartered (StanChart) reported a 7% YoY rise in Q1 2022 net profits to $1.18bn. Net interest income was up 8% to $1.79bn and non-interest income was up 10% to $2.48bn. The bank reported a $200mn credit impairment charge as compared to a $20mn charge during...
by Amruth Sundarkumar | Jan 12, 2022 | High Yield Bonds, India
Dollar bonds of Indian airports like Delhi International Airport Ltd (DIAL) and GMR are down 3-4 points in the week. The moves come after the new Covid variant Omicron which has seen some airlines cut their capacity. For example, Vistara, the airline JV between Tata...
by Amruth Sundarkumar | Jul 5, 2021 | Credit Ratings, India
In another blow to India’s largest international airport, Fitch Ratings downgraded Delhi International Airport Limited (DIAL) to BB- from BB with a negative outlook. The rating agency downgraded the airport’s Long-Term Issuer Default Rating (IDR), the...
by Amruth Sundarkumar | Jun 14, 2021 | Credit Ratings, High Yield Bonds, India
Delhi International Airport Ltd. (DIAL) was downgraded by Moody’s to B1 from Ba3. Moody’s also downgraded DIAL’s Baseline Credit Assessment (BCA) to b1 from ba3 and Cliffton Ltd.’s senior secured bond rating to B1 from Ba3. The outlook is negative. The...
by bondevalue | Mar 19, 2021 | High Yield Bonds, India
Cliffton/Delhi International Airport raised $450mn via a 4Y7M green bond at a yield of 6.25%, 25bp inside initial guidance of 6.5% area. The secured bonds have expected ratings of Ba3/BB, and received orders over $1.28bn, 2.8x issue size. Asia took 36% of the bonds,...
