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S&P rates ‘BB+’ secured notes
GMR Hyderabad International Airport Ltd (GHIAL; BB+/Stable/–) has planned capital spending of Rs.60 billion over the next three years from proposed the US$350 million senior secured notes.
GHIAL has already secured bank facilities to fund its capital outlays, according to S&P Global ‘BB+’ long-term issue rating to the notes.
The issue rating is subject to review of the final issuance documentation, said S&P on 26 Mar 2019.
“But we believe the proposed issuance will help optimize the company’s funding mix,” the rating agency said. fiinews.com
