Meanwhile, Fitch Ratings has placed a negative outlook on Gautam Adani-led APSEZ’s, affirming long-term foreign-currency Issuer Default Rating (IDR) at 'BBB-'. Adani Port’s underlying credit profile is assessed at 'BBB' while its rating is capped by India's Country Ceiling of 'BBB-', it said. APSEZ's underlying credit profile reflects its status as the largest commercial port operator in the country, with best-in-class operational efficiency. CLICK HERE FOR FULL REPORT
APSEZ is India’s largest commercial port operator and integrated logistic player in the country. The company in the financial year 2020-21 annual report said that it expects the next wave of growth to come from logistics, with the government setting an objective to reduce the logistics cost to less than 10 per cent of GDP from the current level of 14 per cent.
"Focus on next-generation technology adoption and innovation culture development will cement APSEZ’s position as a market leader. New avenues for the international expansion of ports at selective locations are in an exploratory stage to create value for the organisation and stakeholders. Towards, strategic capacity addition, we will continue with the development work at Vizhinjam (Kerala) for International Transhipment Container Terminal and liquefied natural gas (LNG) terminal at Dhamra. Development work for an international Container Terminal in Myanmar commenced," the company said in its annual report.
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