CARE upgrades Adani Enterprises to 'AA', retains 'stable' outlook
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- ✓CARE Ratings upgraded Adani Enterprises to 'AA' with a stable outlook on Wednesday.
- ✓This move reflects the company’s improved financial flexibility after recent capital gains and stake sales.
- ✓The agency said, "This upgrade serves as an independent validation of AEL's disciplined capital management and tight fiscal prudence," in an exchange filing.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Economic Times
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
CARE Ratings has upgraded the long-term rating of Adani Enterprises to 'AA', affirming a stable outlook. This elevation underscores enhanced financial adaptability, attributed to recent capital influx and subsidiary stake divestitures. With profit growth likely, supported by a resurgence at Kutch Copper Limited and continued airport operations, coupled with the promoter family's substantial holdings, Adani's strategic significance is reinforced.
MUMBAI: CARE Ratings has upgraded the long-term rating for Adani Enterprises (AEL) to 'AA' from 'AA-', while retaining a 'stable' outlook for the flagship company of the Adani Group. This is the highest-ever rating for the company.
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