Airports Authority of India long-term borrowing reaffirmed 'AAA' - Crisil |
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Published
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Mon, 22 Oct 2007 15:39
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MUMBAI (Thomson Financial) - Indian rating agency Crisil reaffirmed its 'AAA' rating on Airports Authority of India's (AAI) 30-bln-rupee long-term borrowing programme with a stable outlook, saying the programme continues to reflect the authority's robust financial risk profile and dominant market position.Crisil, a division of Standard & Poor's, said the rating also factors in AAI's strategic importance to the government of India and the expected strong growth in the authority' revenues, driven by buoyant growth in air traffic.It also said any change in the Indian government's civil aviation policy that leads to a dilution in AAIs strategic importance to the government could result in a revision in outlook to negativeThe rating strengths are partially offset by AAI's revenue concentration risk arising from a limited number of profitable airports, the ratings agency added.TFN.newsdesk@thomson.comami/pmiCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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