Moody's rates Adani Ports bonds Baa3

Moody's Investors Service said it assigned a Baa3 rating to the proposed dollar-denominated senior unsecured bonds to be issued by Adani Ports and Special Economic Zone Ltd.

Adani’s issuer and senior unsecured bonds ratings remain unchanged at Baa3, Moody’s said.

Adani will use the proceeds to refinance debt.

The outlook is negative.

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