InterGlobe Aviation’s (IndiGo) long-term rating has been downgraded by ICRA by a level to A from A+ as the outlook remains negative. This downgrade comes after the airline reported its highest-ever quarterly loss in April-June period. The short-term rating has been reaffirmed at A1, said the company in a regulatory filing. The ICRA has acknowledged the company’s strong market position, cost competitiveness and healthy liquidity profile among its peers. It additionally attributed the downgrade to the prolonged disruption caused by the pandemic, and expects the airline to remain adversely impacted in the near term with gradual passenger traffic recovery and
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