S&P upgrades Adani Ports to BBB and lifts notes rating
Adani Ports just got a boost: S&P Global Ratings bumped its credit rating from "BBB-" to "BBB."
Thanks to strong cash flow and a healthier balance sheet, this upgrade means APSEZ can borrow money more easily and tap into global markets at better rates.
Its senior unsecured notes also scored a higher rating with a stable outlook.
APSEZ plans ₹20,000 cr capex
S&P expects APSEZ's debt-to-earnings ratio to stay steady at around 2.6 times for the next couple of years, which is way better than FY23's nearly four times.
The company is planning big: annual spending will reach ₹20,000 crore by FY29, after being approximately ₹18,000 crore in FY27 and FY28, mostly for expanding container terminals in India.
The rest will go toward logistics, marine services, and international projects, including ramping up cargo capacity at Vizhinjam and Colombo ports and a full-year contribution from the recently acquired North Queensland Export Terminal.