CRISIL upgrades DB Power's rating after Adani Power calls off acquisition

CRISIL also removed the company from "on watch status" and assigned "stable" outlook

Rating agency CRISIL has upgraded DB Power Ltd’s (DBPL) long-term rating from “A+” to “AA-” after Adani Power Ltd’s plans to acquire DBPL were called off. It also removed the company from “on watch status” and assigned a “stable” outlook.

On August 30, 2022, the rating agency placed DB Power’s rating on watch following Adani Power Ltd’s announcement to acquire DBPL. The long stop date of transaction (the acquisition) under the memorandum of understanding expired on February 15, 2023.

CRISIL Ratings in a statement said it understands that the transaction has been called off and hence the rating watch has