Archive · 30 Jan 2026
JCRA Assigns Landmark Ratings to Adani Group
The Japan Credit Rating Agency (JCRA) has given high ratings to three companies of the Adani Group: Adani Ports, Adani Green Energy, and Adani Energy Solutions.
Adani Ports got a special rating that is even better than India's country rating, which is a big deal.
The other two companies got ratings that are the same as India's country rating.
These ratings show that the Adani Group is doing well financially and is a strong player in India's infrastructure.
Adani Ports handles a lot of India's cargo and has grown its earnings quickly.
Adani Green Energy has a lot of renewable energy capacity and has grown its earnings a lot.
Adani Energy Solutions is expanding its energy network and is known for its good service and efficiency.
JCRA assigned long-term foreign currency credit ratings to three Adani Group companies: APSEZ (A-), AGEL (BBB+), and AESL (BBB+).
APSEZ's rating breaches India's sovereign threshold, a rare achievement for an Indian corporate.
AGEL and AESL's ratings are at par with India's sovereign rating of BBB+.
Adani Ports' strong rating is backed by its diversified asset base, resilient cash-flow generation, and rapid EBITDA expansion.
AGEL has rapidly expanded its renewable energy capacity and EBITDA growth, supported by diversified global funding access.
- Who
- Japan Credit Rating Agency (JCRA)
- What
- Assigned credit ratings to Adani Ports, Adani Green Energy, and Adani Energy Solutions
- When
- Announced on Friday, January 30
- Where
- Ahmedabad, India
- Why
- To reflect the companies' financial management, business model resilience, and global confidence in their long-term strategy
- Companies Rated
- Adani Ports and SEZ (APSEZ), Adani Green Energy Ltd. (AGEL), Adani Energy Solutions Ltd. (AESL)
- Ratings Assigned
- APSEZ: A- (Stable), AGEL and AESL: BBB+ (Stable)
- Rating Agency
- Japan Credit Rating Agency (JCRA)
- Significance
- APSEZ's rating breaches India's sovereign threshold
- Adani Ports' EBITDA Growth
- Rs 7,566 crore (FY20) to Rs 19,025 crore (FY25)
- AGEL's Operational Capacity
- 16.7 GW as of September 2025
- AESL's Transmission Network
- 26,705 ckm of transmission lines, 97,236 MVA capacity
- AGEL's EBITDA Growth
- Rs 1,855 crore (FY20) to Rs 10,532 crore (FY25)
Sources
JCRA assigns landmark ratings to Adani Ports, Adani Green and Adani Energy Solutions
Japan's Credit Rating Agency Assigns Landmark Ratings To 3 Adani Companies
Adani Ports, Adani Green, Adani Energy Solutions get JCRA landmark ratings
Adani secures landmark JCR Ratings, opens door to Japan's long-term capital
