CARE Ratings revises rating for Adani Power's bank facilities

NEW DELHI: Credit Analysis and Research has revised its rating for Adani Power's long-term bank facilities to CARE BBB+, which corresponds to investment grade.

Instruments with this grade are considered to have a moderate degree of safety on timely servicing of financial obligations and carry moderate credit risks.

"Credit Analysis & Research Ltd (CARE) has revised its ratings... for long-term bank facilities (rupee term loan - phase IV) from CARE A- to CARE BBB+," Adani Power said in a filing to BSE.

CARE Ratings has also revised its ratings for other long-term bank facilities, from BBB to BBB-.