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Adani Airport Holdings Limited — Bonds & AA- (India Ratings) Rating

Corporate · Infrastructure

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Methodology v1.0 Download Report (PDF) Watch
Agency Rating
AA- (India Ratings)
Most common current rating on senior bonds
1 of 2 rated · India Ratings, 28 Feb 2026
Total Debt Outstanding
₹6,850 Cr
Across 8 instruments
Active Bonds
8
First Issue
20 Jan 2022
Latest Issue
25 Sep 2026
Maturity Range
2027 - 2042
Observation
8 active bonds tracked from this issuer.
View details →
Coverage: High Data Quality: High Sources: NSE, BSE, SEBI, rating agencies

Latest events

Last 90 days · company disclosures to the exchanges and agency announcements. Not our assessment.
  • 15 Oct 2026 Rating upgraded to AA CRISIL
Issuer health card 1 item to look at
  • Current ratings CRISIL A+, India Ratings AA-
  • Rating range Current ratings range from A+ (CRISIL 31 Oct 2024) to AA- (India Ratings 28 Feb 2026)
  • Rating direction, 12 months 1 upgrade, 0 downgrades
  • Watch / negative outlook None in 12 months
  • Issuer not cooperating No such actions in 12 months
  • Rating withdrawn, 12 months No withdrawal of this issuer's rating in 12 months
  • Newest agency rating Dated 15 Oct 2026
  • Payment record No payment disclosures since 17 Jul 2026
  • Defaults on record No bond marked defaulted
  • Traded in the last 30 days 4 of 8 active bonds had an exchange trade
  • Exchange filings, 90 days 0 filings on NSE/BSE

A checklist of published facts, not a rating or a view on credit quality. Ratings are the agencies' own; payment record covers NSE disclosures since 17 Jul 2026; "late" means paid more than 3 days after the due date (next-working-day payments are allowed). Rating range covers every current rating on the issuer's active bonds, with each agency's rating date. Rating actions count only when the agency's heading names this issuer, not pools or trusts it originated; a withdrawal is flagged only when the issuer's rating itself is withdrawn, not a single facility. Rating age uses the newest rating date on file and is flagged when older than 12 months. See methodology.

Alert me about Adani Airport Holdings Limited An email when a rating agency acts on this issuer (including any cut to default grade D) or a payment is disclosed late or short. Free, no account needed.
01 Issuer Overview
Sector
Infrastructure
Issuer Type
Corporate
First Tracked Bond
20 Jan 2022
Start of this issuer's debt program timeline
  • 8 active bonds tracked from this issuer.
  • 7 of 8 tracked bonds with a stated security status are secured. (based on 8 bonds with a disclosed security status)
  • Most recent rating action: upgrade by CRISIL on 15 Oct 2026.

Operating in the Infrastructure sector, Adani Airport Holdings Limited is classified as a corporate issuer. Bond coupons here span 8.45% - 10.00%, paid annually. The maturity ladder spans 2027 - 2042.

Data sourced from NSDL, BSE, NSE, and registered credit rating agencies. Verify against the issuer's offer document before transacting.

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02 Debt Profile
Outstanding Bonds
8
Tracked by RetailBonds
Amount Tracked
₹6,850 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt (disclosed for 7 of 8 bonds)
Avg Coupon
9.52%
Range 8.45% - 10.00%
Avg Remaining Tenure
3.5 Yrs
Nearest maturity Mar 2027
Secured
87%
7 of 8 bonds with known status
Callable
0
Of 8 bonds
Avg Spread vs G-Sec
+187 bps
Credit premium, from 4 bonds with a current market yield

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (3 bonds).

0 2027: 1 bond, ₹75 Cr tracked, avg coupon 9.95% 1 bond 2027 2028: 3 bonds, ₹2,200 Cr tracked, avg coupon 9.75% 3 bonds 2028 2029: 3 bonds, ₹2,575 Cr tracked, avg coupon 9.14% 3 bonds 2029 2042+: 1 bond, ₹2,000 Cr tracked 1 bond 2042+

Security Type / Instrument Mix

  • NCD 8 bonds · 100% · ₹6,850 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2022: ₹2,000 Cr issued 2022 2024: ₹2,350 Cr issued 2024 2026: ₹2,500 Cr issued 2026 Cumulative: ₹2,000 Cr Cumulative: ₹4,350 Cr Cumulative: ₹6,850 Cr

Based on 7 of 8 active bonds with a known issue date and issue size — the rest are excluded, not assumed zero.

03 Credit Profile
  • AA 1 bond · 12%
  • A 4 bonds · 50%
  • Unrated 3 bonds · 38%
AgencyRatingOutlookBonds
CRISIL A+ — 1
India Ratings AA- Stable 1
CRISIL A+ NSDL record — 3

Recent Rating Actions

AA
Upgrade · Stable
04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade Details
INE0GCN07021 Adani Airport Holdings 9.95% Mar 2027 NCD 9.95% A+ (CRISIL, NSDL record 2024) 2027-03-15 8.50% 2026-10-26
INE0GCN07039 Adani Airport Holdings 9.95% Jun 2028 NCD 9.95% A+ (CRISIL, NSDL record 2024) 2028-06-12 8.75% 2026-10-15
IN80GCN07012 Adani Airport Holdings 9.95% Jun 2028 NCD 9.95% — 2028-06-12 — —
INE0GCN07047 Adani Airport Holdings 9.35% Sep 2028 NCD 9.35% A+ (CRISIL) 2028-09-08 — —
INE0GCN07054 Adani Airport Holdings 8.45% Feb 2029 NCD 8.45% AA- (India Ratings) 2029-02-12 8.91% 2026-11-06
INE0GCN07013 Adani Airport Holdings 10.00% Mar 2029 NCD 10.00% A+ (CRISIL, NSDL record 2024) 2029-03-14 — 2026-09-15
INE0GCN07062 Adani Airport Holdings 8.96% Sep 2029 NCD 8.96% — 2029-09-25 9.18% 2026-11-06
INE0GCN08011 Adani Airport Holdings Jan 2042 CCD — — 2042-01-19 — —
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YTM is the market yield from the latest BSE/NSE trade. It shows “—” when that trade is over 30 days old, the bond is under 30 days from maturity, it is a market-linked debenture, or the price failed our checks (hover the dash for the reason). A coupon is never shown as a yield.

05 Market Activity

Last 30 days, across all outstanding bonds from this issuer.

BSE Traded Value (Last 30 Days)
—
Number of Trades (Last 30 Days)
34
Avg. Yield (Last 30 Days)
9.05%
06 Regulatory Filings
Credit Rating Rationale
07 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 5 2026-02-28
Rating Actions History 1 2026-10-15
Secondary-Market Trades 128 2026-11-06
Reg52(4) Payment Disclosures 0 —

Methodology version 1.0. See full methodology for sources and limitations.

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Frequently Asked Questions
How many active bonds does Adani Airport Holdings Limited have?

Adani Airport Holdings Limited currently has 8 active bonds with coupons of 8.45% - 10.00%, maturities spanning 2027 - 2042.

What is Adani Airport Holdings Limited's credit rating?

The most common current rating on Adani Airport Holdings Limited's senior bonds is AA- (India Ratings). Ratings on file come from CRISIL, India Ratings.

Are Adani Airport Holdings Limited's bonds secured?

Of the 8 bonds with a disclosed security status, 7 are secured (87%) and 1 is unsecured.

When do Adani Airport Holdings Limited's bonds mature?

Adani Airport Holdings Limited's active bonds mature between 2027 - 2042; the nearest matures in Mar 2027; the average tenure is 3.5 Yrs.

What is the average coupon on Adani Airport Holdings Limited's bonds?

The average coupon across Adani Airport Holdings Limited's 8 active bonds is 9.52%.

Disclaimer: This page aggregates publicly available data about Adani Airport Holdings Limited for informational purposes only. Ratings shown are the opinion of the issuing rating agency and are not buy/sell recommendations. RetailBonds.in does not issue its own ratings or investment advice. Verify all data against the issuer’s offer document before transacting.