CARE Ratings has revised its rating for Adani Power’s long-term bank facilities to CARE BBB+, which corresponds to investment grade.
Instruments with this grade are considered to have a moderate degree of safety on timely servicing of financial obligations and carry moderate credit risks.
“CARE has revised its ratings... for long-term bank facilities (rupee term loan — phase IV) from CARE A— to CARE BBB+,” Adani Power said in a filing to BSE.
It has also revised its ratings for other long-term bank facilities, from BBB to BBB—.