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Entity-Specific Rating Rationales

26 Mar 2026

Adani Total Gas Limited (erstwhile Adani Gas Limited): Update on Entity

Adani Total Gas Limited (erstwhile Adani Gas Limited): Update on Entity

30 Jul 2025

Adani Total Gas Limited (erstwhile Adani Gas Limited): Long term rating upgraded to [ICRA]AA+ (Stable); short-term rating reaffirmed

Adani Total Gas Limited (erstwhile Adani Gas Limited): Long term rating upgraded to [ICRA]AA+ (Stable); short-term rating reaffirmed

29 Jan 2025

Adani Total Gas Limited (erstwhile Adani Gas Limited); Change in Limits

Adani Total Gas Limited (erstwhile Adani Gas Limited); Change in Limits

26 Nov 2024

Adani Total Gas Limited (erstwhile Adani Gas Limited) – Update on material event

Adani Total Gas Limited (erstwhile Adani Gas Limited) – Update on material event

28 May 2024

Adani Total Gas Limited (erstwhile Adani Gas Limited): Long-term rating upgraded to [ICRA]AA(Stable) and short-term rating reaffirmed

Adani Total Gas Limited (erstwhile Adani Gas Limited): Long-term rating upgraded to [ICRA]AA(Stable) and short-term rating reaffirmed

12 Feb 2024

Adani Total Gas Limited (erstwhile Adani Gas Limited): Ratings reaffirmed; outlook revised to Stable

Adani Total Gas Limited (erstwhile Adani Gas Limited): Ratings reaffirmed; outlook revised to Stable

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Entity-Specific Credit Perspective Reports

02 Sep 2025

Adani Total Gas Limited (erstwhile Adani Gas Limited)

Adani Total Gas Limited (erstwhile Adani Gas Limited) (Non-SF)

12 Jun 2024

Adani Total Gas Limited (erstwhile Adani Gas Limited)

Adani Total Gas Limited (erstwhile Adani Gas Limited) (Non-SF)

05 Mar 2024

Adani Total Gas Limited (erstwhile Adani Gas Limited)

Adani Total Gas Limited (erstwhile Adani Gas Limited) (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Short-term – Non-fund based – Others [ICRA]A1+ -- -- --
Long-term/Short-term – Unallocated limits – Unallocated limits [ICRA]A1+ -- [ICRA]AA+(Stable) --
Long-term – Fund-based – Cash Credit -- -- [ICRA]AA+(Stable) --
Long-term – Fund-based – Term Loan -- -- [ICRA]AA+(Stable) --

Our Analysts

Analyst 1

Pawankumar Jagdale

Analyst 2

Varun Gogia

Sector Head

Girishkumar Kashiram Kadam
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