Report
CARE Ratings raises Adani Enterprises’ long-term rating from AA- to AA
The Economic Times reports CARE cited improved financial flexibility following a ₹15,000-crore placement and an airport subsidiary stake sale.
TLDR
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.
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