Adani Enterprises secures highest-ever credit rating upgrade from CARE

Adani Enterprises has achieved its highest-ever credit rating after CARE Ratings upgraded its long-term rating to CARE AA; Stable from the previous CARE AA-; Stable.

The rating agency attributed the upgrade to the company's strengthened financial position following a Rs 15,000 crore qualified institutional placement (QIP) and proceeds from the sale of a stake in Adani Airports. These moves have enhanced the firm's financial flexibility and debt management capacity.