India Ratings has affirmed an IND AA (Stable) credit rating for Adani Power Limited’s existing bank facilities and proposed Non-Convertible Debentures. Additionally, an IND AA (Stable) rating has been assigned to new term loan facilities aggregating to ₹12,000 Crore. The rating reflects Adani Power’s strong revenue, EBITDA visibility, healthy diversification, and reduced receivables in Q1 FY26.
Credit Rating Update
Adani Power Limited has received an update on its credit ratings from India Ratings. The agency has affirmed the IND AA (Stable) rating for the company’s existing bank facilities and proposed Non-Convertible Debentures (NCDs). This rating indicates a stable outlook for the company’s financial obligations.
New Facilities Assigned Rating
In addition to the affirmation, India Ratings has assigned an IND AA (Stable) credit rating to additional term loan facilities amounting to ₹12,000 Crore. The combined rated facilities include existing bank loans and the proposed NCDs, reflecting a comprehensive assessment of Adani Power’s financial profile.
Rating Rationale
The IND AA (Stable) rating reflects Adani Power’s strong revenue and EBITDA visibility, balance sheet strength, healthy diversification, and a reduction in receivables during Q1 FY26. The rating also considers the favorable capital costs for the company’s 23.72 GW expansion plan, secured supply chain for critical equipment, and strong execution timelines, which mitigate execution risk. The plan involves the use of internal accruals and a low projected Debt/Equity mix.
Source: BSE
