adani-ports-sez-becomes-india-s-first-private-infrastructure-developer-to-earn-an-aaa-rating

Adani Ports and Special Economic Zone (APSEZ) has attained the highest credit rating possible in India, with CARE Ratings elevating its status to AAA.

This is the highest possible rating given to any issuer in India by credit rating agencies, signifying APSEZ’s strongest level of creditworthiness and the ability to fulfil all its financial guidance, the company said in a statement on Tuesday.

Karan Adani, Managing Director of APSEZ, expressed pride in the acknowledgment of the company's financial discipline and dedication to reducing debt, alongside its diverse asset and customer bases, and its status as the top earner in the global sector.

This distinction marks APSEZ as the premier large-scale private infrastructure developer to achieve such recognition. The rating is attributed to the company's resilient integrated business model, dominant market position, robust operational growth, healthy profitability, ample liquidity, and minimal leverage.

APSEZ's approach of reviving port assets post-acquisition and its integrated service provision from port to customer gate have propelled a compounded annual growth rate of 15 percent in volumes from FY19 to FY24, far exceeding the national port average of 4 percent.

In FY24, APSEZ handled a cargo volume of 419.95 MMT, marking a significant 24 percent increase from the previous year. As a crucial arm of the globally diversified Adani Group, APSEZ boasts the largest portfolio of ports and terminals in India, commanding 27 percent of the nation's total port volumes across seven strategically located facilities on both the west and east coasts.

The company's ambitious vision aims to solidify its position as one of the world's premier ports and logistics platforms within the next decade.