Adani Power's Long-Term Debt Rating Upgraded to CARE AA+; Stable by CARE Ratings
CARE Ratings upgraded Adani Power Limited's long-term bank facilities to CARE AA+; Stable and non-convertible debentures to AA+; Stable. The total rated facilities now stand at ₹90,500 crore. The upgrade is attributed to strong financial performance, diversified operations, and long-term PPAs.
A credit rating upgrade generally improves a company's borrowing capacity and can potentially lower its cost of debt, which has a medium-term positive impact on its financial standing and operational flexibility.
The credit rating upgrade by CARE Ratings to 'AA+; Stable' for Adani Power Limited's long-term facilities indicates improved financial health and reduced risk, which is a positive development for the company.
Adani Power Limited (APL) has announced an upgrade in its credit ratings by CARE Ratings. The long-term bank facilities have been upgraded to CARE AA+; Stable, with an enhancement in the total amount from ₹42,950 crore to ₹52,950 crore. Additionally, long-term/short-term bank facilities have been upgraded to CARE AA+; Stable / CARE A1+ respectively, with an amount of ₹15,050 crore.
The credit rating assigned to APL’s Non-Convertible Debentures has also been upgraded to AA+; Stable. A separate tranche of Non-Convertible Debentures amounting to ₹11,500 crore has been assigned a rating of CARE AA+; Stable.
The total rated facilities amount to ₹90,500 crore. This upgrade reflects APL's sustained strong financial and operational performance, its robust market position with a diversified operating portfolio, and the presence of long-term Power Purchase Agreements (PPAs) that provide strong revenue visibility. Improved fuel security, sustained strong cash flow generation, a strengthened capital structure, and a comfortable liquidity profile were also key factors in the rating agency's decision.
The company has also updated this information on its website, www.adanipower.com.
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Adani Power Limited filed this with the NSE as a statutory disclosure, categorised under credit ratings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Adani Power Limited. Read the original for the full detail.