Crisil names Adani Ports & SEZ as non-cooperative issuer

Company failed to provide information for rating process

Rating agency Crisil has named Adani Port and Special Economic Zone Limited (APSEZ) as non-cooperative issuer. Adani group unit failed to provide information for rating action despite repeated attempts to garner data.

Crisil reaffirmed “AA-” rating for long-term loans. The rating action was based on the best-available information. 

The ratings continue to reflect the company's dominant market position, healthy operational profitability, and robust financial flexibility. These strengths are partially offset by its leveraged capital structure because of sizable debt-funded capital expenditure, and exposure to promoter companies.

Rating on the company's short-term facility has been removed from 'Notice of Withdrawal'. The