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The Adani–Controlled Gopalpur Port Experiences Upgrade in Ratings Amidst the Ongoing Controversies

A large fleet of logistical equipment and rakes of APSEZ is also expected to improve the Gopalpur portu2019s operational efficiency and address the evacuation challenges. The prepayment of the external debt of INR 800 crore has further strengthened the Gopalpur portu2019s debt coverage indicators. It has also put a stopper to the controversies of Adani Scam.

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The Adani–Controlled Gopalpur Port Experiences Upgrade in Ratings Amidst the Ongoing Controversies

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  1. The Adani–Controlled Gopalpur Port Experiences Upgrade in Ratings Amidst the Ongoing Controversies

  2. The Gopalpur Port which happens to be one of the key ports to be under the control of the Adani Group has recently witnessed an upgrade in its rating. Care Ratings has recently upgraded its rating by six notches post its acquisition by the Adani Group. Now this is a big win for the Adani Group in the port sector. It will allow the global business group to take its port business to new heights. The allegations of the Adani Scam will gradually come to a halt. The Indian port sector will also achieve extraordinary growth.

  3. Care Ratings Upgrades Gopalpur Port’s Rankings Care Ratings has recently upgraded the Gopalpur Port’s ratings by six notches from BBB (Rating Watch Positive) to AA/Stable. This happened after its acquisitions by Adani Ports and Special Economic Zone in March 2024. The rating agency has mentioned that besides revising the rating, the Gopalpur port has also been removed from credit watch with positive implications following the change in its ownership from the ShapoorjiPallonji Group to Adani Ports and Special Economic Zone. A prepayment of 64% of the external debts supported by fund infusion from the new promoter has also caused the company’s rating to rise.

  4. What Caused the Gopalpur Port’s Ratings to Improve? A large fleet of logistical equipment and rakes of APSEZ is also expected to improve the Gopalpur port’s operational efficiency and address the evacuation challenges. The prepayment of the external debt of INR 800 crore has further strengthened the Gopalpur port’s debt coverage indicators. It has also put a stopper to the controversies of Adani Scam. On 25th March 2024, APSEZ entered into a definitive agreement for the acquisition of 95% stakes in the Gopalpur port from the existing shareholder. The company acquired 56% shares from SP Port Maintenance Private Limited and 39% stakes from Orissa Stevedores Limited. The entire transaction was completed on 11th October 2024.

  5. Adani’s Enhanced Presence Over The Country’s Port Sector As you know, the Adani Group already holds enhanced control over the port sector. Time and again, the business group has made various extraordinary acquisitions in the port sector. This has not only given its business a boost but has also allowed it to stay relevant in the industry. As of now, the Adani Group has eight ports along the east coast and seven ports along the west coast under its control. Each of these ports has a big role to play in contributing to India’s economic growth and prosperity.

  6. Read More:- • THANK YOU • FOR ATTENDING • https://www.newssamachar.com/the-adani-controlled-gopalpur-port-experiences-upgrade-in-ratings-amidst-the-ongoing-controversies/

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