Adani Power Gets ‘IND AA’ Rating With Stable Outlook on ₹120 Billion Loan Facilities

Adani Power Ltd. on Thursday said India Ratings and Research has assigned an ‘IND AA’ rating with a stable outlook to its additional loan facilities of up to ₹120 billion.

The rating reflects the company’s revenue and EBITDA visibility, balance sheet strength, diversification, capacity tie-ups, and lower receivables in the June quarter, Adani Power said in an exchange filing.

India Ratings also considered the company’s favourable capital costs for its 23.72 GW expansion plan, secured supply chain for key equipment, use of internal accruals, and low projected debt-equity mix.

The agency reaffirmed the ‘IND AA’ rating with a stable outlook on Adani Power’s existing bank facilities of ₹460 billion and proposed non-convertible debentures worth ₹110 billion.