S&P gives Adani Ports notes BBB-

S&P said it assigned its BBB- long-term issue rating to Adani Ports and Special Economic Zone Ltd.'s planned $750 million of senior unsecured notes.

Adani, also rated BBB-, plans to use part of the proceeds to fund Rs 30 billion-Rs 35 billion of planned capital expenditures in fiscal 2022 with the year ending March 31, 2022, and the remainder for general corporate purposes.

The outlook is stable.

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