Moody’s assigns Ba3 rating to Adani Green Energy’s proposed USD notes
Moody’s Investors Service has assigned a Ba3 rating to Adani Green Energy’s proposed USD senior secured notes.
According to Moody’s scale of ratings, obligations rated Ba are judged to be speculative and subject to substantial credit risk.
It has assigned a Ba3 rating to the proposed USD senior secured notes to be issued by Adani Green Energy Ltd (AGEL), a statement by Moody’s said adding that the outlook is stable.
AGEL will primarily use the proceeds from the USD notes to on-lend to its direct and indirect subsidiaries for them to fund the development of utility-scale renewable power projects.
