No negative action taken by stakeholders: Crisil reaffirms ratings for Adani companies
Crisil Ratings has reaffirmed its credit ratings for Adani Group entities, citing sufficient liquidity and robust operational cash flows despite ongoing legal challenges.
It pointed out that lenders and investors haven't taken any negative actions against the group.
The United States Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) recently filed charges against Gautam Adani, Sagar Adani, Adani Green Energy Ltd (AGEL) managing director and CEO Vneet Jaain and other key executives.
Crisil said it is monitoring the developments closely. «Based on management and select lender feedback, Crisil Ratings understands that these developments have not led to any negative actions so far by lenders or investors, such as acceleration of debt repayment or spread resets,» it said.
It affirmed its ratings for 24 Adani Groupfirms and said they remain under continuous surveillance.
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