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Adani Power Limited updates on rating by Ind-Ra



Posted On : 2022-09-20 21:09:20( TIMEZONE : IST )

Adani Power Limited updates on rating by Ind-Ra

India Ratings & Research (Ind-Ra) has assigned its 'Provisional Ind A/Positive' 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 agency has taken into consideration, inter alia, the Company's diverse counterparty mix, high degree of capacity tie-up under long term Power Purchase Agreements, fuel management advantage, resolution of various regulatory matters, visibility of earnings and competitive position in merit order, upcoming capacity expansion, and improving business and operating performance.

Source : Equity Bulls

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IndiaRatingsandResearch RatingUpdate AdaniPower