This is the highest possible rating given to any issuer in India by credit rating agencies, reflecting the strongest level of creditworthiness of APSEZ and its ability to meet all its financial guidance, the company said in a statement.
Karan Adani, Managing Director, APSEZ, said, “We value the recognition of our financial discipline and commitment to deleveraging, diversified asset base as well as customer base and the highest profitability globally in the region.”
With this development, APSEZ becomes the first large-sized private infrastructure developer to receive this recognition.
The rating is driven by APSEZ's strong integrated business model, leading industry position, strong growth in operations with high liquidity and healthy profitability with low leverage. The company said it has a successful track record of transforming port assets post acquisition and its integrated approach as a transport utility providing services from port to customer gate is expected to drive 15 per cent compound annual growth in volumes during FY 2019-24. developed. 4 percent CAGR for all Indian ports.
In FY24, APSEZ handled a cargo volume of 419.95 MMT, an increase of 24 per cent over the previous year. APSEZ, a part of the globally diversified Adani Group, is the country's 8th largest port developer and operator with seven ports and terminals strategically located on the west coast and seven ports and terminals on the east coast, accounting for 27% of the country's total. Represents percentage. port volume.
The company aims to become one of the world's largest ports and logistics platforms over the next decade.
Karan Adani, Managing Director, APSEZ, said, “We value the recognition of our financial discipline and commitment to deleveraging, diversified asset base as well as customer base and the highest profitability globally in the region.”
With this development, APSEZ becomes the first large-sized private infrastructure developer to receive this recognition.
The rating is driven by APSEZ's strong integrated business model, leading industry position, strong growth in operations with high liquidity and healthy profitability with low leverage. The company said it has a successful track record of transforming port assets post acquisition and its integrated approach as a transport utility providing services from port to customer gate is expected to drive 15 per cent compound annual growth in volumes during FY 2019-24. developed. 4 percent CAGR for all Indian ports.
In FY24, APSEZ handled a cargo volume of 419.95 MMT, an increase of 24 per cent over the previous year. APSEZ, a part of the globally diversified Adani Group, is the country's 8th largest port developer and operator with seven ports and terminals strategically located on the west coast and seven ports and terminals on the east coast, accounting for 27% of the country's total. Represents percentage. port volume.
The company aims to become one of the world's largest ports and logistics platforms over the next decade.
