Top Searches
Advertisement

Fitch Upgrades Mumbai Airport’s USD Notes to ‘BBB-’; Signals Stronger Financial Outlook

Updated: June 18, 2025 19:13

Image Source: Association of Private Airport Operators
Fitch Ratings has upgraded the rating on Mumbai International Airport Ltd’s (MIAL) USD 750 million senior secured notes due 2029 from ‘BB+’ to ‘BBB-’, with a Stable Outlook. The agency also assigned a ‘BBB- (EXP)’ rating to MIAL’s proposed new USD bonds, reflecting improved financial metrics and robust market positioning.
 
Key Highlights:
  • - Rating Rationale: The upgrade is driven by a tariff hike approved in May 2025 for the fourth control period (FY25–FY29), which is expected to enhance MIAL’s revenue and reduce leverage.
  • - Improved Leverage Forecast: Fitch now expects MIAL’s average leverage to improve to 3.7x over FY25–FY29, compared to its earlier forecast of 4.8x.
  • - Capex and Funding: The proposed bond proceeds will be used to refinance existing USD bonds and fund capital expenditure under the new control period.
  • - Regulatory Strength: MIAL benefits from a stable regulatory regime, with tariffs and returns governed by the Airports Economic Regulatory Authority of India.
  • - Market Position: As India’s second-largest airport, Chhatrapati Shivaji Maharaj International Airport (CSMIA) continues to enjoy strong passenger growth potential, despite the upcoming Navi Mumbai airport.
  • - Risk Containment: Fitch noted limited contagion risk from the Adani Group, citing the 26% government stake and strong governance via the Airports Authority of India.
This upgrade reflects growing investor confidence in MIAL’s financial resilience and its strategic role in India’s aviation infrastructure.
 
Sources: Fitch Ratings, Free Press Journal, Economic Times

Advertisement

STORIES YOU MAY LIKE

Image Source: Aviation A2Z
Wings of Assurance: Air India’s Chandrasekaran on Safety, Sorrow, and Moving Forward
Image Source : The Economic Times
AI Travel Influencers Are Redefining The Digital Travel Experience
Image Source: Business Upturn
Morepen Laboratories Sets Sail for Dubai: Pharma Giant Unleashes Global Ambitions in the Desert Oasis
Advertisement
Image Source: ET Now
Switching On Success: SEIL’s Stock Market Debut Illuminates India’s Energy Future!
Image Source: Times Of India
Soul School: 6 Powerful Teachings You Can’t Learn Anywhere Else
Image Source: Business Upturn
Electrifying Alliances: Tata Elxsi and Infineon Fast-Track India’s Road to Green Mobility
Image Source: The Economic Times
Banking on Trust: Standard Chartered India Refutes Rumors, Pledges Transparency and Compliance
Advertisement
Live Blogs
Saswat Secures the Bag: Fintech Startup Banks $2.6M from Ankur Capital & Co.
From Water Queues to Google Views: Sundar Pichai Reflects on a Thirsty Childhood
Cash Course: Gurugram B-School Lets MBA Students Trade with ₹40 Lakh Real Money
ChatGPT Served the Pounds Away: Woman Loses 5kg with a Prompt and a Plan
Top Stories
Image Source: Zee5
Zee5 Unveils Gripping Bengali Thriller ‘Bibhishan’—Set to Premiere June 27
Image Source: Zoom News
Table for Two: Trump Hosts Munir, Jairam Ramesh Serves Modi a Triple Jhatka
Image Source: Vietnam News
From Dong to Digital: Vietnam’s Bold Leap into a Cashless Future
Image Source: Food & Wine
Crunch Time for Mars: EU Regulators Put $36 Billion Kellanova Deal Under the Microscope
Advertisement
Advertisement

Follow WOWNEWS 24x7 on:

Copyright 2024 WOWNEWS 24x7. All rights reserved. The WOWNEWS 24x7 is not responsible for the content of external sites. Read about our approach to external linking.

Powered By Just Imagine