Adani Enterprises credit ratings upgraded by CARE Ratings

Adani Enterprises announced that CARE Ratings has upgraded its credit ratings for several debt instruments. The rating for Non-Convertible Debentures has been upgraded from CARE A+; Stable to CARE AA-; Stable. Similarly, the long-term bank facilities rating has been raised from CARE A+; Stable to CARE AA-; Stable. The long-term/short-term bank facilities rating has been upgraded from CARE A+/CARE A1+ to CARE AA-/CARE A1+. CARE Ratings reaffirmed the CARE A1+ rating for the company's commercial paper and short-term bank facilities. The total amount of long term/short term facilities affected by the rating action is approximately Rs. 17,500 crores.