S&P upgrades Adani Int Container's credit profile, affirms 'BBB-' rating

Standard and Poor's (S&P) has upgraded the Adani International Container Terminals Pte Ltd's (AICTPL) preliminary standalone credit profile (SACP) from "bb+" to "bbb-". The company is expected to maintain a stronger-than-expected operating and financial performance.

S&P has affirmed the company's rating at 'BBB-' with a stable outlook.

AICTPL is a 50-50 joint venture between Adani Ports and Special Economic Zone Ltd and Terminal Investment Ltd (TIL). It works as a container terminal operator based in Mundra, Gujarat. It is at a prime location with favourable water depth compared with other nearby ports, besides broad rail and road connectivity to India's