CARE withdraws rating assigned to the instruments of Adani Ports

13 Jan 2022 , 09:15 AM

Adani Ports and Special Economic Zone Limited (APSEZ) informed the exchanges Wednesday inform that the credit rating of Non-Convertible Debentures (NCDs) stands withdrawn, as per the attached letter dated January 11, 2022, received from Care Ratings Limited.

CARE withdrew ratings after the company intimated to BSE Limited about the full repayment of 10.50% NCDs through a letter on September 27, 2021.

“We have noted that Adani Ports and Special Economic Zone Limited has repaid the aforementioned NCD issue in full and there is no outstanding under the said issue as on date. Taking cognizance of this, we hereby withdraw our rating for Adani Ports and Special Economic Zone Limited’s NCD issue, with immediate effect,” company shared Care Ratings letter.

During early trade on Thursday, Adani Ports & Special Economic Zone Ltd was trading at Rs764.10 per share up by Rs0.65 or 0.09% from its previous closing of Rs763.45 per share on the BSE.