CARE Ratings raises Adani Enterprises’ long-term rating from AA- to AA

The Economic Times reports CARE Ratings raised Adani Enterprises’ long-term rating from AA- to AA, the company’s highest-ever rating, while retaining a stable outlook. CARE linked the upgrade to improved financial flexibility following a ₹15,000-crore qualified institutional placement in July and the sale of a 5.5% stake in Adani Airports Holding. The Economic Times says ICRA rates the company AA- with a stable outlook.