A+ for APSEZ! Adani Ports secures ‘AAA’ credit rating by CARE Ratings

Adani Ports and Special Economic Zone (APSEZ) has been accorded the top-most credit rating by CARE Ratings. The Adani company’s credit rating was revised to ‘AAA’ by the rating agency. The company stated that this rating was a testament of its “level of credit worthiness and the ability to fulfill all its financial guidance”. 

APSEZ, in a filing, announced that it has become the first large sized private infrastructure developer to get this recognition. The rating, it added, is driven by the company’s robust integrated model,  dominant industry position, strong growth in operations with healthy profitability, coupled with high liquidity and low leverage. 

Shares of Adani Ports and Special Economic Zone ended 0.60 per cent higher at Rs 1324.85 on BSE on Tuesday. The market cap of the firm rose to Rs 2,86,186.01 crore.

“We cherish the recognition to our financial discipline and commitment to deleveraging, diversified asset base as well as customer base and the highest profitability in this sector globally,” said APSEZ Managing Director Karan Adani. 

Karan Adani also took to social media to share the development. “Excited to share that @Adaniports has earned 'AAA' credit rating from @CareEdge_Group. It is the 1st private infrastructure developer in India to achieve this feat! The recognition reflects our robust business model, strong industry position & commitment to financial excellence,” he said. 

APSEZ has witnessed a 15 per cent compounded annual growth in volumes for FY19-24 as compared to 4 per cent CAGR for other Indian ports. In FY24, APSEZ did a cargo volume of 419.95 MMT, which is 24 per cent higher than the previous year.