DB Power rating up after Adani calls off buy
Mumbai: Credit rating agency Crisil has upgraded ratings of DB Power’s Rs 7,700-crore bank loan facilities to ‘AA-’ from ‘A+’ after Adani Power abandoned plans to acquire the coal-fired thermal electricity generator from Dainik Bhaskar Group. It also removed the rating from ‘watch with developing implications’ and assigned a ‘stable’ outlook.
On August 30, 2022, Crisil had placed the ‘watch’ rating on DB Power following the announcement by Adani Power to acquire the company. On February 15, 2023, Adani Power announced that the deadline to complete the DB Power had expired.
Crisil said that it understands the transaction has been called off and “hence the rating watch has been resolved”.
