India, Jan. 30 -- Japan Credit Rating Agency (JCR), the country's leading credit rating agency, has initiated coverage of three Adani Group companies—Adani Ports and Special Economic Zone Ltd. (APSEZ), Adani Green Energy Ltd. (AGEL) and Adani Energy Solutions Ltd. (AESL)—assigning long-term foreign currency ratings with a Stable outlook to all three. The move marks a key milestone in the Adani Group's global credit journey and underscores its strengthening credit profile.
JCR assigned APSEZ an A- (Stable) rating, a rare instance of an Indian corporate receiving an above-sovereign foreign currency rating from an international agency. AGEL and AESL were rated BBB+ (Stable), in line with India's sovereign rating.
The A- rating fo...