Ind-Ra rates Adani Transmission's Rs 500-cr NCDs 'stable'

Adani Transmission, a part of the diversified Adani Group, today said India Ratings & Research has assigned the company's Rs 500 crore non convertible debentures a rating of 'IND AA+' with stable outlook.
"India Ratings & Research Private Limited has assigned the company's Rs 500 crore Non-Convertible Debentures a final rating of 'IND AA+' with stable outlook," the company said in a BSE filing.
These non-convertible debentures are part of the initially proposed Rs 6,000 crore long-term debt facilities "which were assigned a provisional IND AA+ rating with stable outlook."
Adani Transmission had earlier said it has raised Rs 500 crore through issuance of non-convertible debentures on private placement basis.

"The company has raised Rs 500 crore... By allotment of 5,000 rated, listed, taxable, secured, redeemable, non-convertible debentures (NCDs) of face value of Rs 10,00,000 each in three series on private placement basis," Adani Transmission had earlier said in a BSE filing.
The NCDs will be listed on the Wholesale Debt Market segment of BSE, it had added.
The company had reported a consolidated net profit of Rs 79.94 crore for the December quarter.
Adani Transmission is a leading private sector company with over 5,000 circuit kms of operational lines across the western and northern regions of the country along with 12,000 MVA capacity.