Moody’s gives Adani Ports bonds Baa3

Moody’s Investors Service said it assigned a Baa3 rating to the proposed senior bonds of Adani Ports and Special Economic Zone Ltd.

The issuer rating and the rating of its existing senior unsecured bonds are unchanged at Baa3.

The outlook is stable.

The company will apply the proceeds of the issuance to refinance the $650 million senior bonds maturing in July 2020.

The bonds will represent a senior unsecured obligation and will rank equally with all of the company’s existing and future unsecured and unsubordinated debt, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.