ICRA affirms and assigns credit ratings to Adani Power

Adani Power has announced that ICRA Limited has affirmed its credit ratings and assigned new ratings to various facilities, reinforcing the company's financial stability. ICRA has assigned [ICRA] AA (Stable) to additional term loan facilities and [ICRA] AA (Stable) / A1+ to working capital and bank guarantee facilities. These ratings, combined with the existing bank facilities upon the amalgamation of Adani Power (Jharkhand) Limited, reflect the company's diversified power generation portfolio, supported by long-term power purchase agreements and efficient operations. Specifically, the rated facilities include long-term fund-based term loans (INR26,089.56 Crore), long-term fund-based working capital (INR15,184.44 Crore), short-term non-fund based bank guarantees (INR4,726.00 Crore), and proposed non-convertible debentures (INR11,000.00 Crore), totaling INR57,000.00 Crore. The reaffirmation also accounts for planned capacity additions over the next five years.