CARE upgrades Adani Enterprises' credit ratings; Stock trades flat

22 Mar 2022 , 09:18 AM

CARE Ratings Limited has revised and upgraded the Credit Rating of Adani Enterprises Limited. The rating on long-term bank facilities has been revised from CARE A+ (Structural Obligation); Stable to CARE A+; Stable.  For long-term / short-term bank facilities CARE A+ (SO); Stable / CARE A1+ has been revised to CARE A+; Stable / CARE A1+.

The credit rating agency also revised rating on long-term / short-term bank facilities from CARE A; Stable / CARE A1 to CARE A+; Stable/ CARE A1+.  For short-term bank facilities CARE A1 rating was revised to CARE A1+.

The rating on Market Linked Debentures was revised from CARE PP-MLD A: Stable to CARE PP-MLD A+; Stable. On Non-Convertible Debentures CARE A; Stable rating was revised to CARE A+; Stable.

During early trade on Tuesday, Adani Enterprises Ltd was trading at Rs1,808 per piece up by Rs5 or 0.28% from its previous closing of Rs1,803 per piece on the BSE.