ICRA Assigns Strong AA; Stable Rating to Adani Power's Additional Loans

ICRA Ratings has assigned an ICRA AA; Stable credit rating to additional term loan facilities of Adani Power Limited (APL). The rating agency has also reaffirmed the ICRA AA; Stable rating on APL's existing bank facilities, along with its issued and proposed Non-Convertible Debentures.

Key Rated Facilities

The combined rated facilities amount to Rs. 69,000 crore in total. This encompasses:

- Rs. 46,000 crore in bank loan facilities, reaffirmed at ICRA AA/Stable/ICRA A1+.

- Rs. 12,000 crore in additional bank loan facilities, assigned ICRA AA/Stable/ICRA A1+.

- Rs. 11,000 crore in proposed NCDs, reaffirmed at ICRA AA; Stable.

Strengths Underpinning the Rating

The rating underscores APL's dominant market leadership, backed by a diversified portfolio of assets and customers. Revenue visibility remains robust, driven by extensive capacity tie-ups. The company exhibits healthy operating efficiency, multiple competitive edges, proven project execution capabilities, and a solid balance sheet.

Source : Equity Bulls

Keywords

AdaniPower RatingUpdate ICRA AdditionalTermLoan