S&P rates Adani Ports notes BBB-

S&P said it assigned its BBB- rating to Adani Ports and Special Economic Zone Ltd.'s planned $500 million of senior unsecured notes.

Adani, rated BBB- with a stable outlook, intends to use the proceeds to refinance its $500 million bond maturing next January.

“The proposed bond will not increase indebtedness as the company plans to repay the January 2022 bond before March 31, 2021,” S&P said in a press release.

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