Adani Ports and Special Economic Zone Ltd.

Rating agency, CARE has assigned in-principle AA+ (SO) rating to Adani Ports and Special Economic Zone’s proposed Non-Convertible Debentures (NCDs) issue worth Rs 775 crore.

The company has received the said rating on the back of its Port Service Agreement with Indian Oil Corporation (IOC) rendering strong future revenue visibility concomitant with sound credit quality of the underlying receivables, established track record of operating the Single Point Mooring (SPM) facility and increase in IOC’s Panipat Refinery capacity, which would ensure higher capacity utilization of APSEZ’s SPM facility.

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.