Fitch Ratings has assigned Adani Ports and Special Economic Zone Ltd’s (APSEZ, BBB-/Negative) proposed senior unsecured notes of as much as $1.25 billion an expected rating of ‘BBB-(EXP)’ with a Negative Outlook.
The proceeds may be used in most cases for refinancing the debt of Krishnapatnam Port Company Limited (KPCL) upon the of entirety of APSEZ’s acquisition of the agency and for refinancing APSEZ’s other debt, such as early redemption of part of a US greenback bond due 2024.
The very last score is contingent upon the receipt of very last documents conforming to data already received, Fitch said.
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