CRISIL updates on ratings of Adani Power Ltd

CRISIL Ratings has assigned its 'CRISIL A/Stable' rating to proposed bank facilities of Adani Power Limited ("the Company") that will be put in place upon completion of the scheme of amalgamation, which is presently under approval.

Consequent to the scheme of amalgamation approved by the board of the Company, it has undertaken the process to amalgamate six of its wholly owned operational subsidiaries with itself, subject to requisite approvals. The aforesaid rating will apply to the combined bank loan facilities of these subsidiaries and the Company, post-completion of the proposed amalgamation.

The rating takes into consideration the strong market position of the Company, long term power sale tie-ups, domestic fuel supply arrangements, diversified generating portfolio with locational advantage, and diverse counterparty mix.

The rating also takes into consideration, inter alia, improving business and operating performance, resolution of various regulatory matters, settlement of issues pertaining to Power Purchase Agreements of 2,434 MW capacity, reduction in debt, and the envisaged amalgamation.

Source : Equity Bulls

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AdaniPower RatingUpdate BankFacilities