LIVE MARKET TRACKER :   BSE SENSEX   27346.33      |    NSE NIFTY 8169.20    
GLOBAL MARKETS :  NASDAQ 4541.633   -0.17%    |    FSI London 6419.53   -0.53%    |    NIKKEI Japan 15658.2   +0.67%
  USD GBP EUR CAD AUD INR
USD - 0.6249 0.7935 1.1183 1.1366 61.455
GBP 1.6004 - 1.2699 1.7897 1.8189 98.3501
EUR 1.2603 0.7876 - 1.4094 1.4324 77.4542
CAD 0.8946 0.5591 0.7099 - 1.0168 54.9785
AUD 0.8801 0.55 0.6984 0.9842 - 54.0853
INR 0.0163 0.0102 0.0129 0.0182 0.0185 -
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
IL&FS Engineering, Kridhan Infra and GMDC to see some action today
(30-Oct-2014)

IL&FS Engineering, Kridhan Infra and GMDC to see some action todayIL&FS Engineering and Construction Company has won contracts from WBSEDCL (West Bengal State Electricity Distribution Company) for construction of Rural Electrification Infrastructure, Erection......click on news to read complete article.

Moody's retain negative outlook on Indian banks on high corporate leverage
(30-Oct-2014)

MoodyIn yet another worrying development for banking sector, international rating agency, Moody's while retaining its negative outlook for the Indian banking sector, has underscored that high leverage in the......click on news to read complete article.

RIL, Lupin and NMDC to see some action today
(22-Oct-2014)

RIL, Lupin and NMDC to see some action todayReliance Industries' (RIL) telecom arm - Reliance Jio Infocomm is merging its two subsidiaries, Infotel Telecom and Rancore Technologies, with itself. The move is aimed at bringing all its telecom related......click on news to read complete article.

International Stock News
US markets closed lower after Fed ends QE
(30-Oct-2014)

US markets closed lower after Fed ends QEThe US markets closed lower on Wednesday, with Dow Jones Industrial Average snapping a four-day winning streak, after the Federal Reserve made official its plans to end the last round of its recession-era......click on news to read complete article.

US markets climb higher ahead of FOMC meet
(29-Oct-2014)

US markets climb higher ahead of FOMC meetThe US markets rallied on Wednesday, ahead of the Federal Reserve's two-day policy meeting. Federal Reserve officials are widely expected to announce the end to the 2008-era bond-buying stimulus program,......click on news to read complete article.

US markets closed mostly flat; S&P ends in red
(28-Oct-2014)

US markets closed mostly flat; S&P ends in redThe US markets closed mostly flat on Monday, with index rallying the most last week since January 2013. Stocks have historically started to climb before GDP, anticipating economic expansions by an average......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.