Adani Enterprises has announced that CARE Ratings Limited and ICRA Limited have assigned and reaffirmed credit ratings for various debt instruments and bank facilities. Ratings for non-convertible debentures and long-term bank facilities are primarily CARE AA-/Stable and ICRA AA-/Stable. The announcements were made on December 24, 2025.
CARE Ratings Update
CARE Ratings Limited has assigned and reaffirmed the following ratings for Adani Enterprises:
- Non-Convertible Debentures: ₹3,000.00 Crore, rated CARE AA-; Stable (Assigned)
- Non-Convertible Debentures: ₹1,000.00 Crore, rated CARE AA-; Stable (Reaffirmed)
- Non-Convertible Debentures: ₹2,000.00 Crore, rated CARE AA-; Stable (Reaffirmed)
- Commercial Paper: ₹2,000.00 Crore, rated CARE A1+ (Reaffirmed)
- Long-term bank facilities: ₹2,500.00 Crore, rated CARE AA-; Stable (Reaffirmed)
- Long-term / Short-term bank facilities: ₹15,505.00 Crore, rated CARE AA-; Stable / CARE A1+ (Reaffirmed)
- Short-term bank facilities: ₹240.00 Crore, rated CARE A1+ (Reaffirmed)
ICRA Ratings Update
ICRA Limited has assigned and reaffirmed the following ratings for Adani Enterprises:
- Non-convertible debentures: ₹3,000.00 Crore, rated ICRA AA-; Stable (Reaffirmed)
- Commercial paper: ₹2,000.00 Crore, rated ICRA A1+; (Reaffirmed)
- Long-term – Fund-based – Term loan: ₹2,500.00 Crore, rated ICRA AA-; Stable (Reaffirmed and Assigned for enhanced amount)
- Long-term/ Short term – Fund-based/ Non-fund based – Working capital and bank facilities: ₹15,505.00 Crore, rated ICRA AA-; Stable/ ICRA A1+; (Reaffirmed and Assigned for enhanced amount)
- Short term – Non-fund based – Loan equivalent risk for hedging limit: ₹240.00 Crore, rated ICRA A1+; (Reaffirmed)
- Proposed non-convertible debentures: ₹3,000.00 Crore, rated ICRA AA-; Stable (Assigned)
Source: BSE