Adani Enterprises has received credit ratings from ICRA as under:

Non convertible debentures (Rs 3000 crore) - ICRA AA-; Stable (reaffirmed)

Commercial paper (Rs 2000 crore) - ICRA A1+ (reaffirmed)

Long term - Fund based - Term loan (Rs 2500 crore) - ICRA AA-; Stable (reaffirmed and assigned for enhanced amount)

Long-term/ Short term – Fund-based/ Non-fund based – Working capital and bank facilities (Rs 15505 crore) - ICRA AA-; Stable/ ICRA A1+ (reaffirmed and assigned for enhanced amount)

Short term – Non-fund based – Loan equivalent risk for hedging limit (Rs 240 crore) - ICRA A1+ (reaffirmed)

Proposed non-convertible debentures (Rs 3000 crore) - ICRA AA-; Stable (assigned)