Adani Power CARE AA Stable reaffirmed on Rs 69,000 cr facilities
ADANIPOWER · price
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On the reaction day the stock moved 0.4 pts less than Nifty 100 and 0.4 pts less than its Power peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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CareEdge Ratings assigned CARE AA; Stable rating to Adani Power's additional term loan facilities of Rs 12,000 crore and reaffirmed the same rating on existing bank facilities of Rs 46,000 crore and proposed Non-Convertible Debentures of Rs 11,000 crore. Total rated facilities stand at Rs 69,000 crore. The rating cites strong revenue visibility from tied-up operational capacity, stable operating performance, a robust balance sheet, and diverse offtakers.
Reaffirmation of high investment grade CARE AA rating signals credit strength and lower borrowing risk, supportive of share price sentiment.