LIVE MARKET TRACKER :   BSE SENSEX   27371.84      |    NSE NIFTY 8225.20    
GLOBAL MARKETS :  NASDAQ 4748.396   +2.24%    |    FSI London 6493.85   +0.43%    |    NIKKEI Japan 17621.4   +2.39%
  USD GBP EUR CAD AUD INR
USD - 0.639 0.8144 1.16 1.2241 63.31
GBP 1.5649 - 1.2744 1.8153 1.9157 99.0757
EUR 1.228 0.7847 - 1.4245 1.5033 77.7453
CAD 0.8624 0.5511 0.7023 - 1.0557 54.5964
AUD 0.8172 0.5222 0.6655 0.9479 - 51.7363
INR 0.0158 0.0101 0.0129 0.0183 0.0193 -
Indian-Commodity  :  Corporate  :  ICRA assigns long term rating on Adani Ports' Rs 1,000 crore proposed NCD programme

ICRA assigns long term rating on Adani Ports' Rs 1,000 crore proposed NCD programme (14-Dec-2012)

ICRA has assigned long term rating of AA- to the Rs 1,000 crore proposed Non Convertible Debenture (NCD) programme of Adani Ports and Special Economic Zone (APSEZL). The outlook on the long term rating is Negative. The NCDs are proposed to be used by the company for refinancing maturing debt and meeting capex and general corporate requirements.

The credit rating agency also has ratings of 'AA-' outstanding on the Rs 4829.96 crore bank limits and the Rs 300 crore (reduced from Rs 1575 crore) Non Convertible Debenture programme of APSEZL, the outlook on which stands revised to Negative from Stable earlier. Meanwhile, the credit rating agency continues to maintain its 'A1+' rating on the Rs 625 crore Commercial Paper programme/short term debt programme of APSEZL.

The ratings continue to reflect the strong business profile of the company's flagship Mundra port which has enabled it to register cargo growth at rates superior to the industry trend even in the midst of challenging market conditions; the company's robust profitability metrics and cash accruals from operations; and the strong upside potential to its cash flows over the medium to longer term from the newly commissioned facilities at Mundra port and projects at SPV level.

Further being a non-major port entity, APSEZL enjoys flexibility of tariff determination for a large part of its port operations as per the current regulatory regime; any changes in that would be an event based rating sensitivity. The ratings are also supported by the fact that most of the company's projects have been/are being executed through SPVs, many of which have been completed and are funded on a project recourse basis.


Top News Today
RBI Governor emphasizes on better banking practices
(26-Nov-2014)

RBI Governor emphasizes on better banking practicesAmid the rising clamour from industry for rate cuts and signs of slow economic growth in September quarter that may compel Finance Ministry Arun Jaitley too, to argue Reserve Bank of India (RBI) Governor......click on news to read complete article.

GMR Infrastructure , FTIL and SAIL to see some action today
(26-Nov-2014)

GMR Infrastructure , FTIL and SAIL to see some action todayGMR Infrastructure (GIL) has emerged as lowest bidder in international competitive bidding for two packages of Eastern Dedicated Freight Corridor project involving construction of 417 km long double track......click on news to read complete article.

Telecom, IT and broadcast soon to see a new super-regulator
(25-Nov-2014)

Telecom, IT and broadcast soon to see a new super-regulatorA new super-regulator governing telecom, information technology and broadcast is on the anvil, as the Centre has finalised the broad outline for appointing a new super-regulator governing these sectors.......click on news to read complete article.

International Stock News
US markets end mostly in red on mixed economic data
(26-Nov-2014)

US markets end mostly in red on mixed economic dataThe US markets ended mostly in red on Tuesday on getting a mixed set of economic data, while the US third quarter GDP showed an unexpected growth, the consumer confidence declined in the month of November.......click on news to read complete article.

US markets move higher in a range bound trade
(25-Nov-2014)

US markets move higher in a range bound tradeThe US markets extending their gains ended modestly higher on Monday, though the trade remained tight ranged and some traders on the sidelines, lacking any major economic data. But the mood was jubilant......click on news to read complete article.

US markets closed higher as Europe, China fuel optimism
(22-Nov-2014)

US markets closed higher as Europe, China fuel optimismThe US markets closed higher on Thursday, as optimism in the global economy grew after central banks in China and Europe signaled additional stimulus measures. The initial strength on Wall Street came......click on news to read complete article.

 

     
  
Recent Corporate News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.