S&P upgrades Adani Ports credit rating to investment grade
pre-market1 source ↓written by the desknot a recommendation
- over the next
- 2.6 times
S&P Global Ratings upgraded Adani Ports and Special Economic Zone Ltd (APSEZ) to 'BBB' from 'BBB-' on 25 June 2023. This upgrade reflects strong operating cash flows and a leaner balance sheet, with net debt-to-EBITDA expected to stabilize at 2.6 times over the next 12-24 months.
This rating improvement enhances APSEZ's borrowing capacity, potentially lowering costs and facilitating access to global debt markets as the company pursues its expansion plans.
Not investment advice. For informational purposes only.