India Ratings upgraded Adani Green Energy's long-term rating to 'IND AA-' due to strong performance, improved leverage, and strategic initiatives.
India Ratings and Research (Ind-Ra) upgraded Adani Green Energy Limited's (AGEL) long-term issuer rating from 'IND A+' to 'IND AA-' due to the company's strong operational performance, improved leverage metrics, and strategic initiatives. AGEL's annual capacity additions are projected to increase to 4-5 GW from 2.5-3.5 GW, driven by equity infusions, asset monetization, and better operational performance. This rating upgrade reflects AGEL's enhanced execution capabilities and improved financial health.
May 30, 2024
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