Adani Ports stock rises 3% as agencies give it positive ratings
DSIJ Intelligence / 19 Jun 2017
The company is engaged in the business of developing, operating and maintaining the port and port-based related infrastructure facilities, including multi product Special Economic Zone (SEZ).
Adani Ports and Special Economic Zone Limited is an India-based port infrastructure company. The company is engaged in the business of developing, operating and maintaining the port and port-based related infrastructure facilities, including multi product Special Economic Zone (SEZ). On Monday, it informed the bourses that the company has been given investment grade ratings by various agencies.
The list is given below:
Rating Agency - Rating assigned
Moody’s - Baa3
S&P - BBB
Fitch - BBB
Moody’s has changed the outlook from negative to stable. The company also expects the same ratings for its foreign currency denominated bonds.
Meanwhile, at Rs 373.40 per share at 1429 hours IST on BSE, Adani Ports was up by 2.9%. It hit a high of Rs 374.80 and a low of Rs 365 so far during the day.
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