S&P assigns Adani Electricity BBB-

S&P said it assigned BBB- ratings to Adani Electricity Mumbai Ltd. and the company's $1 billion of 3.949% senior secured notes.

Adani Electricity’s obligor group benefits from a well-established regulatory framework that supports stable cash flow. The group has a dominant position in Mumbai, the agency said. Adani Transmission Ltd. is the parent of the group.

The outlook is stable because S&P believes the obligor group will manage its growth strategy successfully and with minimal project execution risks.

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