Adani Ports earns AAA rating

Adani Ports and Special Economic Zone (APSEZ) announced that it had attained an AAA rating from CARE Ratings. According to APSEZ, this marks the first instance of a large-sized private infrastructure developer receiving such acknowledgment.

In a statement, APSEZ mentioned that the rating was attributed mainly to its robust integrated business model, strong industry position, consistent market share growth with healthy profitability, along with high liquidity and low leverage, as stated by the agency.

For the fiscal year FY24, APSEZ reported handling a cargo volume of 419.95 MMT, representing a 24 percent increase compared to the previous fiscal year.

APSEZ managing director Karan Adani expressed, "We appreciate the recognition of our financial discipline and commitment to deleveraging, diversified asset base, as well as customer base, and the highest profitability in this sector globally."

Related Stories

APSEZ Establishes India's First Port of Refuge
Adani Ports, Airports May Raise $250 Mn from MUFG Amid US Scrutiny
Kolkata Dock Deploys Its First Electric Mobile Cranes
NCC Founder and Padma Shri Awardee AVS Raju Passes Away at 89
Embraer to Acquire 51 Per Cent Stake in Mahindra Aerospace Arm