Business Wire

ADANI-GROUP

Share
International Rating Agencies Affirm Rating With Upgraded “Stable” Outlook for Various Adani Portfolio Companies

International Rating agencies Moody’s (vide press release dated 13th February 2024) and S&P (vide press release dated 22nd January 2024) have affirmed and upgraded the outlook to “stable” for all the issuances for Adani complex issued in the international market by various Adani Portfolio companies.

This assures high credit quality with stable and predictable cashflows across all issuers of Adani complex. Adani Portfolio has the largest number of Investment Grade (BBB-/Baa3 and higher) rated issuances out of private companies in India and equivalent to India’s sovereign rating.

Additionally, Moody’s vide its press release dated 13th February 2024 stated that “the Group has completed a number of debt transactions, including refinancing as well as obtaining new loan facilities, demonstrating its continued access to debt capital at a reasonable cost. At the same time, several high-profile equity transactions by large institutional and strategic investors, such as GQG and Qatar Investment Authority, also demonstrated the Group's continued equity market access.

“[W]hilst an investigation by Securities and Exchange Board of India (SEBI) – India's securities market regulator - is still ongoing, the Supreme Court's decision to entrust SEBI to complete the investigation on the Adani Group and the court's view that there is no apparent regulatory failure attributable to SEBI have curbed the potential tail risk in a downside scenario.”

And S&P vide its press release dated 22nd January 2024 noted that “We believe the conclusion of most regulatory investigations into the Adani Group without evidence of wrongdoing has reduced downside risk.

“Repayment of all promoter loans linked to share prices, equity, and bank loans raised by multiple group entities at competitive rates reflects restored access to funding. In our view, rated entities Adani Electricity Mumbai Ltd. (AEML) and Adani Ports and Special Economic Zone Ltd. (APSEZ) enjoy good competitive positions, healthy cash flows, and adequate liquidity to meet their debt-servicing requirements.”

A summary of the rating upgrades is as detailed below -

Issuer Name

Rating

Agency

Summary of Rating Action

Rating

Outlook

Adani Ports and SEZ Limited

S&P

Reaffirmed at BBB-

Upgraded to ‘Stable’ from ‘Negative’

Moody’s

Reaffirmed at Baa3

Reaffirmed at ‘Stable’

Fitch

Maintained at BBB-

Maintained at ‘Stable’

Adani International Container Terminal Private Limited

S&P

Maintained at BBB-

Maintained at ‘Stable’

Moody’s

Reaffirmed at Baa3

Reaffirmed at ‘Stable’

Fitch

Maintained at BBB-

Maintained at ‘Stable’

Adani Electricity Mumbai Limited (subsidiary of AESL)

S&P

Reaffirmed at BBB-

Upgraded to ‘Stable’ from ‘Negative’

Moody’s

Reaffirmed at Baa3

Upgraded to ‘Stable’ from ‘Negative’

Fitch

Maintained at BBB-

Maintained at ‘Stable’

Adani Transmission Step One Limited (subsidiary of AESL)

Moody’s

Reaffirmed at Baa3

Upgraded to ‘Stable’ from ‘Negative’

Fitch

Maintained at BBB-

Maintained at ‘Stable’

Adani Energy Solutions Limited Restricted Group 1 – AESL RG1

Moody’s

Reaffirmed at Baa3

Reaffirmed at ‘Stable’

Fitch

Maintained at BBB-

Maintained at ‘Stable’

Adani Green Energy Limited

Moody’s

Reaffirmed at Ba3

Upgraded to ‘Stable’ from ‘Negative’

Adani Green Energy Limited – RG1

S&P

Maintained at BB-

Maintained at ‘Stable’

Moody’s

Reaffirmed at Ba2

Upgraded to ‘Stable’ from ‘Negative’

Fitch

Maintained at BB+

Maintained at ‘Stable’

Adani Green Energy Limited – RG2

S&P

Maintained at BB+

Maintained at ‘Stable’

Moody’s

Reaffirmed at Ba1

Reaffirmed at ‘Stable’

Fitch

Maintained at BBB-

Maintained at ‘Stable’

(AESL: Adani Energy Solutions Limited)

The rating actions by both S&P and Moody’s now follows the same outlook that Fitch had reaffirmed as part of their review confirmed in CY2023 and all the international rating agencies now reflects the “Stable” outlook for all issuers within Adani universe.

Detailed press release of both agencies can be accessed through the following links.

Moody’s - https://www.moodys.com/research/Moodys-takes-rating-actions-on-8-Adani-Group-entities-Rating-Action--PR_485736

S&P - https://disclosure.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3114891

About Adani Portfolio

Headquartered in Ahmedabad, the Adani Portfolio is the largest and fastest-growing portfolio of diversified businesses in India with interests in logistics (seaports, airports, shipping and rail), resources, power generation and distribution, renewable energy, gas and infrastructure, agro (commodities, edible oil, food products, cold storage and grain silos), real estate, public transport infrastructure, consumer finance, defence, and other sectors. Adani owes its success and leadership position to its core philosophy of ‘Nation Building’ and ‘Growth with Goodness’, a guiding principle for sustainable growth. The Portfolio is committed to protecting the environment and improving communities through its CSR programmes based on the principles of sustainability, diversity, and shared values.

Further information at www.adani.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240215968671/en/

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com
DK

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

SCENTMATIC's AI "KAORIUM" Debuts at THAMEEN Fragrance Launch in London's Selfridges4.7.2025 11:13:00 CEST | Press release

SCENTMATIC Inc., a leader in scent digitalization, introduced its AI-powered scent-to-language system, KAORIUM, at the THAMEEN Fragrance new product launch event. This pivotal event took place from June 5 to 11, 2025, at Selfridges department store in London, UK. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250703662207/en/ State of exhibition Global Expansion: KAORIUM Establishes UK Presence Europe leads the global fragrance market, with the UK projected to reach US$2.82 billion by 2033. Recognizing this, SCENTMATIC is rapidly expanding its international footprint. In May 2024, SCENTMATIC established its overseas subsidiary, KAORIUM, in London, appointing industry expert Ben Yanoushek as CEO. Official UK operations commenced on February 1, 2025, with the launch of its dedicated website: www.kaorium.com. KAORIUM Trialed at "Florentine Diamond" Launch Event The "Florentine Diamond" launch event for luxury brand THAMEEN Frag

Andersen Consulting samarbejder med Mercurial Minds om at forbedre mulighederne inden for digital transformation4.7.2025 01:10:00 CEST | Pressemeddelelse

Andersen Consulting udvider sit udbud af teknologidrevne løsninger med tilføjelsen af samarbejdsfirmaet Mercurial Minds (M.M.), et konsulentfirma inden for digital transformation, AI og IT med base i Pakistan. M.M. blev grundlagt i 2013 og tilbyder en række tjenester, der er designet til at hjælpe organisationer med at udvikle sig og skalere, herunder i forbindelse med deres digitale transformationsstrategi, AI-tjenester, it-rådgivning og udvikling af robuste mobil- og webbrugeroplevelser. Firmaet leverer end-to-end-løsninger – udformning af datadrevne køreplaner, udvikling af intelligent automatisering og levering af sikre mobil- og weboplevelser, der kan skaleres – skræddersyet til virksomheder, der ønsker at forbedre sine forbindelsesmulighederne og opnå indsigter i realtid. M.M. betjener en bred vifte af brancher med fokus på finans, telekommunikation og andre dataintensive sektorer. "Dette samarbejde er en katalysator," siger Nabeel Saiyer, administrerende direktør for M.M. "Vores

Global Tourism Surging Ahead of Economic Growth, With Visits to Hit 30 Billion by 20344.7.2025 01:00:00 CEST | Press release

The World Economic Forum report, in collaboration with Kearney and the Ministry of Tourism Saudi Arabia, predicts a significant uptick in tourist trips across the globeThe tourism sector will contribute $16 trillion to global GDP (more than 11% of the global economy) by 2034, according to World Travel & Tourism Council estimates (WTTC)India and China will be responsible for more than 25% of all outbound travel by 2030 The World Economic Forum has today published a new report forecasting that the travel and tourism industry is projected to serve 30 billion tourist trips by 2034. Travel and Tourism at a Turning Point: Principles for Transformative Growth, produced in collaboration with Kearney and the Ministry of Tourism Saudi Arabia, reveals a projected $16 trillion contribution to global GDP by the same year—representing more than 11% of the total world economy, according to World Travel & Tourism Council estimates. The report also found that the sector is expanding 1.5 times faster th

The 2025-2026 World Branding Awards Animalis Edition Honouring Leading Pet and Animal Brands Globally3.7.2025 21:00:00 CEST | Press release

The 2025-2026 World Branding Awards Animalis Edition marked its fifth instalment, bringing together leading pet and animal brands from all around the world. These brands were celebrated for their outstanding achievements, earning recognition as National, Regional, and Global Winners. The awards ceremony, held at Vienna's prestigious Hofburg Palace, welcomed winners across diverse categories, including pet food, retail, wellness, pet exhibitions, and aquatic products. Mounia Berrada-Gouzi expertly hosted the evening, which culminated in a grand celebration of brand excellence. “The Animalis Edition of the World Branding Awards recognises brands that have achieved the highest distinction—genuine recognition in the hearts and minds of consumers. Tonight, we honour those whose names resonate globally, whose values inspire loyalty, and whose presence defines excellence in the pet and animal industry,” said Richard Rowles, Chairman of the World Branding Forum. Out of over 950 brands nominate

Venture Global Announces 20-Year Sales and Purchase Agreement with PETRONAS3.7.2025 14:59:00 CEST | Press release

Today, Venture Global, Inc. (NYSE: VG) announced the execution of a new 20-year Sales and Purchase Agreement (SPA) with PETRONAS LNG Ltd. (PLL), a subsidiary of the Malaysian state-owned oil and gas company, PETRONAS. Under the terms of the SPA, PETRONAS will purchase 1 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Venture Global’s third facility, CP2 LNG, for 20 years. This builds upon Venture Global’s existing agreement with PETRONAS for 1 MTPA of LNG supply from Plaquemines LNG. PETRONAS, a world-class partner in the LNG industry, joins other CP2 LNG customers in Europe, Asia and the rest of the world in a strategically important project to global energy supply and security. To date, approximately 10.75 MTPA of the 14.4 MTPA nameplate capacity for CP2 Phase One has been sold. About Venture Global Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global’s business includes assets ac

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye