CARE assigns ‘AA’ rating to Adani Ports’ NCD issue

Credit rating agency, CARE has assigned ‘AA’ rating to Adani Ports and Special Economic Zone’s Non Convertible Debentures (NCD) worth Rs 495 crore.

The rating assigned to the non convertible debentures of the company factor in its strong operating efficiency and competitive position of its flagship port, Mundra, its superior infrastructure, flexibility in determining tariff being a non major port and diversified cargo mix, with long-term contracts with the customers.

Adani Ports and Special Economic Zone is the country's largest private multi-port operator and part of the Adani Group, a global integrated infrastructure player.