Ahmedabad, January 30 (IANS). Japan Credit Rating Agency (JCRA) on Friday assigned long-term foreign currency credit ratings with stable outlook to three Adani Group companies – Adani Ports and SEZ (APSEZ), Adani Green Energy Limited (AGEL) and Adani Energy Solutions Limited (AESL).
The leading Japanese credit rating agency has given A-(Stable) rating to APSEZ. Additionally, both AGEN and AESL have been rated BBB+ (Stable). These ratings are equivalent to India’s sovereign rating BBB+.
Jugeshinder Singh, Group CFO, Adani Group, said, “These important ratings reflect Adani Group’s commitment to disciplined financial management, strong balance sheet foundation and world-class execution across our diversified infrastructure.”
Singh further added, “These confirm the depth and strength of our business model and reflect the confidence placed in our long-term strategy by global lenders, institutional investors and capital markets. This support further strengthens our position as a leading partner in building India’s infrastructure and reinforces our commitment to deliver sustainable, high-quality growth.”
Adani Ports’ strong rating confirms its strong credit profile, diversified asset base and strong cash flow generation capacity and places it among the select group of Indian infrastructure companies to receive a sovereign (country rating) rating above from a leading international rating agency.
This rating is one of the first examples of Indian infrastructure platforms being rated at these levels by JCRA, reflecting Adani Group’s growing engagement with global rating agencies and its growing alignment with international credit standards.
The rating agency said APSEZ’s creditworthiness is at par with its peer group, and cited its superior infrastructure capabilities, consistently strong profits, stable long-term cash flows and prudent financial management as placing the company above India’s sovereign foreign exchange rating.
–IANS
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