Ind-Ra upgrades Adani Power credit rating to IND AA+ from IND AA, stable outlook
ADANIPOWER · price
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India Ratings and Research upgraded Adani Power's long-term credit rating to IND AA+ from IND AA with a stable outlook. Short-term debt rating affirmed at IND A1+. The upgrade covers Rs 11,000 crore NCDs and Rs 58,000 crore bank loan facilities. Additional Rs 11,500 crore NCDs and Rs 10,000 crore bank loans were assigned the same rating. The upgrade reflects Adani Power's strong business profile, sizeable contracted operating portfolio, fuel security arrangements, healthy operating cash flows, and adequate liquidity despite major capex commitments for capacity expansion.
Positive for shareholders. Signals strong financial health and may lower future borrowing costs. Likely to support stock sentiment.