📊 S&P cuts outlook on Adani Port, other group firms to negative; flags funding, cash flow risks after bribery charges 📊
📮 S&P Global Ratings has cut its outlook on three Adani Group entities -- Adani Ports and SEZ Ltd, Adani Green Energy Ltd (AGEL RG2) and Adani Electricity Mumbai Ltd, Adani Ports and Special Economic Zone Ltd -- to negative, in a rating action on five Adani Group entities. The rating firm cited potential risks to Adani Group's cash flows, access to funding, funding costs and governance, following bribery charges filed in the US against founder Gautam Adani.
📮 S&P affirmed its 'BBB-' rating on Adani Electricity and Adani Ports, as well as its 'BB+' issue rating on AGEL RG2. However, it highlighted potential risks to the Adani Group's cash flows, governance practices, and access to funding if the allegations are proven or if investor confidence in the group deteriorates.
📮 S&P Global Ratings has cut its outlook on three Adani Group entities -- Adani Ports and SEZ Ltd, Adani Green Energy Ltd (AGEL RG2) and Adani Electricity Mumbai Ltd, Adani Ports and Special Economic Zone Ltd -- to negative, in a rating action on five Adani Group entities. The rating firm cited potential risks to Adani Group's cash flows, access to funding, funding costs and governance, following bribery charges filed in the US against founder Gautam Adani.
📮 S&P affirmed its 'BBB-' rating on Adani Electricity and Adani Ports, as well as its 'BB+' issue rating on AGEL RG2. However, it highlighted potential risks to the Adani Group's cash flows, governance practices, and access to funding if the allegations are proven or if investor confidence in the group deteriorates.