Adani Energy Solutions Limited has informed the Exchange about Credit Rating
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Awaiting price reaction for this filing.
Crisil Ratings has upgraded the credit rating of Adani Electricity Mumbai Limited (a material subsidiary of Adani Energy Solutions) to 'Crisil AAA' from 'Crisil AA+/Positive' for its proposed Non-Convertible Debentures. The outlook has been revised to 'Stable' from 'Positive'. This is a two-notch upgrade, moving the subsidiary from a high investment-grade rating to the highest investment-grade rating. The upgrade signals Crisil's confidence in the subsidiary's financial strength and ability to service debt.
Positive for shareholders — the highest AAA rating will help Adani Electricity Mumbai raise NCDs at lower borrowing costs, improving overall financial efficiency of the Adani Energy Solutions group.