The proposed issuance of masala bonds by Delhi International Airport (DIAL), which operates the international airport in the national capital, would help in raising funds without incurring currency risk and also lengthen its debt maturity profile, according to credit rating agencies.
Moody’s Investors Service and S&P Global Ratings on Tuesday assigned rating for DIAL’s proposed masala bonds and the US dollar bonds issues.
While Moody’s has given ‘Ba2’ rating, S&P Global has assigned ‘BB’ rating. Both have a stable outlook. The ratings indicate higher credit risks.
DIAL is a three-way joint venture with majority-owned by GMR Infrastructure.
Moody’s said the issuance of rupee…
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