Adani Ports Achieves AAA Rating, First Among India's Large-Sized Private Infrastructure Developers

Adani Ports and Special Economic Zone (APSEZ), in an exchange filing on Wednesday, announced that it has secured an AAA rating by CARE Ratings.

With this development, the company has become the first large-sized private infrastructure developer to achieve the top tier rating, India's largest private port operator said in the filing.

"This is the highest possible rating given to any issuer in India by credit rating agencies, signifying APSEZ’s strongest level of creditworthiness and the ability to fulfil all its financial guidance," the company said.

CARE rates credit quality from ‘AAA’ (its highest rating) to ‘D’ (lowest rating). ‘AAA’ is assigned to entities with “exceptionally strong capacity for payment of financial commitments.”

APSEZ Managing Director Karan Adani also took to social media to share the development.

Adani Ports, a part of the globally diversified Adani Group, holds a dominant position in India's port sector, with a presence in all maritime states.

It is the largest port developer and operator in India, managing seven strategically positioned ports and terminals on the west coast, including Mundra, Tuna, Dahej, and Hazira in Gujarat, Mormugao in Goa, Dighi in Maharashtra, and Vizhinjam in Kerala.

The company's scope extends beyond India; it's engaged in developing a transhipment port in Colombo, Sri Lanka, and holds ownership of the Haifa Port in Israel.

In the fiscal year 2024, this private giant handled nearly 27 per cent of the country's total cargo and around 44 per cent of container cargo.