Adani Group Credit Outlook Cut to Negative by S&P as Risk Mounts
- S&P revises outlook on Adani Ports, Adani Electricity lower
- S&P joins Moody’s, Fitch in leaving bond ratings unchanged
This article is for subscribers only.
The outlooks on Adani Group’s credit scores were slashed to negative by S&P Global Ratings as investors grow concerned about potential governance risks and funding challenges.
S&P lowered the rating outlook for Adani Ports & Special Economic Zone Ltd. and Adani Electricity Mumbai Ltd. to negative from stable on Friday, analysts Mary Anne Low and Cheng Jia Ong said in a statement. The move follows a short-seller report alleging widespread problems at the entities, which triggered losses across their stocks and bonds despite Adani Group’s rebuttals.