Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Adani Power’s long-term bank facilities worth Rs 7830.30 crore. The rating agency has also reaffirmed ‘BBB-/ A3’ rating to company’s long- term /short-term bank facilities worth Rs 5,079.60 crore.
The ratings continue to draw strength from Adani Power’s (APL’s) strong parentage being part of the Adani group, financial support from the promoter group by way of infusion of equity/unsecured loans, group’s diversified presence in various sectors predominantly in energy businesses, substantially large power generation capacity in operation, long-term Power Purchase Agreements (PPAs) in place for off-take of majority of power, availability of adequate transmission infrastructure and softening of imported coal prices.
