Moody's changes rating outlook on 7 Adani companies to negative
«We have changed the outlook on all seven issuers to negative from stable,» Moody's said.
The affected entities are two units each of Adani Green Energy and Adani Transmission, Adani Electricity Mumbai Ltd, Adani Ports and Special Economic Zone Limited (APSEZ), and Adani International Container Terminal.
These rating actions follow the indictment of Adani Green Energy Ltd's (AGEL) chairman Gautam Adani and several senior management team members by the US Attorney's Office in a criminal case and the filing of charges by the US Securities and Exchange Commission (SEC) in a civil case, Moody's said.
Billionaire Gautam Adani's indictment, Moody's said, will likely weaken Adani Group's access to funding and increase its capital costs.
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