Another achievement of Adani Group, Adani Port becomes first private infrastructure developer to achieve AAA rating

Another achievement has been added to the name of Adani Group. Adani Ports and Special Economic Zone Limited (APSEZ) has been upgraded to AAA ratings by CARE Ratings. This rating received by Adani Group is considered to be the highest rating given by credit rating agencies to any company in the country. This is no less than a major achievement for the private infrastructure sector of the country. This rating received by the company reflects the strongest level of merit and ability to repay investors' money. The special thing is that APSEZ is the only company to get such a rating. Adani Ports and Special Economic Zone (APSEZ) on Tuesday announced the upgradation of its credit rating to AAA by CARE Ratings.

With a AAA rating, APSEZ is recognized as the first large-scale private infrastructure developer. The upgrade in APSEZ's rating is due to the company's strong business model, strong growth in profitable operations and high liquidity. APSEZ, which started in 2011 with the operation of just two ports (Mudra and Dahej), now has a successful track record of growing to a portfolio of 14 ports. Which has resulted in 15% compound annual growth for FY19-FY24 compared to 4% CAGR for all Indians.

Karan Adani, Managing Director of APSEZ, said, "We value the recognition of our financial discipline and commitment to deleveraging, diversified asset base as well as customer base and the highest profitability globally in the sector." With this development, APSEZ becomes the first large-sized private infrastructure developer to receive this recognition.

The rating is driven by APSEZ's strong integrated business model, leading industry position, healthy profitability coupled with strong growth in operations, high liquidity and low leverage. The company said it is expected to be the fastest growing port in India in terms of volume for FY2019-24 due to its successful track record of turning around port assets post acquisition and its integrated approach as a transport utility providing services from port gate to customer gate. There has been an annual growth of 15 percent compared to 4 percent CAGR.