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Adani Enterprises arm AEL upgraded to AA Stable by CARE Ratings

CARE Ratings upgraded long-term bank facilities of ₹ 4,000 crore to AA Stable, and raised the long-term/short-term facilities worth ₹ 16,505 crore to CARE A1+ while keeping the long-term AA Stable view.

Reported · Written up by our desk · Emerging Markets

Adani Enterprises said its credit rating for AEL has been upgraded to AA Stable, the highest level in its credit history, according to a CARE Ratings update shared in a regulatory filing.

The company linked the upgrade to what it described as disciplined capital management and tight fiscal prudence, saying AEL strengthened its credit profile over the past seven years while executing core infrastructure-led capex.

CARE Ratings also updated the ratings on specific facilities and instruments. It upgraded the rating on long-term bank facilities worth ₹ 4,000 crore from CARE AA- to CARE AA Stable.

In addition, the rating on long-term/short-term bank facilities worth ₹ 16,505 crore was updated from CARE AA Stable to CARE A1+ for the short-term portion while maintaining CARE AA Stable for the long-term view, the filing said.

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