Economic TimesLean R·
CARE upgrades Adani Enterprises to ‘AA’, retains ‘stable’ outlook
MUMBAI: CARE Ratings has upgraded the long-term rating for Adani Enterprises (AEL) to ‘AA’ from ‘AA-’, while retaining a ‘stable’ outlook for the flagship company of the Adani Group. This is the highest-ever rating for the company.The upgrade by CARE reflects Adani Enterprises’ improved financial flexibility, following a Rs 15,000-crore qualified institutional placement in July, and a 5.5% stake sale in its subsidiary Adani Airports Holding Ltd at a pre-money valuation of Rs 1.67 lakh crore.“Ra…
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