Mumbai, Dec 8 (IANS) Rating agency Moody’s on Monday upgraded the rating of two entities of Adani Green Energy Limited (AGEL) — AGEL-RG1 and AGEL-RG2 — to ‘Ba1/Stable’ from the earlier ‘Ba1/Negative’.

The US financial service company has also upgraded the rating of an Adani Energy Solution Limited (AESL) entity — the AESL– USPP RG1 to ‘Baa3/Stable’ from ‘Baa3/Negative’.

Additionally, Adani International Container Terminal Pvt Ltd (AICTPL), a firm under the transport and logistics arm of Adani Group, has also got a rating improvement to ‘Baa3/Stable’ from ‘Baa3/Negative’.

Earlier, global rating agencies Fitch, S&P, and Care Edge Global upgraded the ratings of several entities of Adani Group’s companies.

Earlier this year, Fitch had enhanced the ratings of the Mumbai International Airport Ltd, the North Queensland Export Terminal, the Adani International Container Terminal Pvt Ltd, the Adani Ports & Special Economic Zone Ltd (APSEZ), the Adani Energy Solutions Ltd, and the Adani Electricity Mumbai Limited.

S&P upgraded ratings for entities of AGEL and AESL. Additionally, the global firm had given a rating uplift to APSEZ as well.

Moreover, CareEdge Global rated Adani Electricity Mumbai Limited and Mumbai International Airport Ltd as ‘BBB+/Stable’.

The Adani Portfolio has delivered a stellar financial performance in the first half of this fiscal (H1 FY26), clocking a robust capex of Rs 67,870 crore ($7.6 billion) with EBITDA rising to an all-time high of Rs 47,375 crore ($5.3 billion).

Acceleration in capex led to an increase in gross assets by Rs 67,870 crore to Rs 6,77,029 crore ($76 billion) — on track to achieve the guided Rs 1.5 lakh crore capex.

The TTM (trailing twelve months) EBITDA has now scaled to Rs 92,943 crore ($10.4 billion) — up 11.2 per cent (year-on-year), the company informed, adding that ‘AAA’ rated assets contribute towards 52 per cent of EBITDA.

“Our core infrastructure businesses continue to deliver strong double-digit growth even as we execute one of the largest capex programmes, aligned with India’s Viksit Bharat capex super cycle. Adjacency businesses are also showing momentum,” Adani Group’s Group CFO Jugeshinder Singh said.

“In H1 FY26, we recorded our highest-ever capex in the first half despite seasonal factors. Importantly, our debt metrics continue to remain below the guided range even after doubling capex to Rs 1.5 lakh crore — reflecting strong financial discipline,” he added.

–IANS

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