Adani Ports and Special Economic Zone Ltd.

Ratings agency Moody's Investors Service has assigned ‘Baa3’ rating to the proposed senior unsecured bonds of Adani Ports and Special Economic Zone (APSEZ). The company will apply the proceeds of the USD bond issuance to capital expenditure, refinancing part of existing indebtedness and other permissible uses under the external commercial borrowings guidelines.

APSEZ is part of Adani Group with businesses spanning coal trading, coal mining, oil & gas exploration, ports, multi-modal logistics, power generation & transmission and gas distribution. APSEZ represents a large network of ports with India’s largest Special Economic Zone (SEZ) at Mundra.