New Delhi, Dec. 2 -- The credit rating of Gopalpur Ports Limited (GPL) has been upgraded to CARE AA; Stable by Care Edge Ratings following its acquisition by Adani Ports and Special Economic Zone Limited (APSEZ).

The company has also been removed from the 'credit watch with positive implications' status, reflecting the positive impact of the change in ownership.

The upgrade comes after Adani Ports completed the acquisition of a 95 per cent stake in GPL on October 11, 2024. The acquisition involved buying a 56 per cent stake from Shapoorji Pallonji Port Maintenance Private Limited and a 39 per cent stake from Orissa Stevedores Limited.

The rating agency said "Rating of Gopalpur Ports Limited (GPL) is revised to CARE AA; Stable and simul...