Fitch assigns Adani Ports notes BBB-

Fitch Ratings said it assigned Adani Ports and Special Economic Zone Ltd.'s planned senior unsecured notes of up to $500 million an expected rating of BBB-. Fitch’s issuer default rating for Adani Ports is BBB-.

The proceeds will be used primarily for refinancing the early redemption of APSEZ's US dollar bond due 2022.

The outlook is negative.

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