look news india
Ahmedabad: International rating agencies Moody’s and Fitch have reduced the outlook of various companies of Adani Group to negative. Rating agencies have downgraded it to the risk of a disciplinary-rule on bribery charges against Gautam Adani in a US court. Moody’s Ratings has said that the ratings of seven companies of Adani Group have been reduced from stable-stable to negative. The global rating agency has also reduced the outlook of all seven companies from stable to negative. Fitch rating agency has also reduced the rating outlook of six companies of Adani Group to negative.
Outlook downgraded by Moody’s includes (1) Adani Green NG Ltd. Restricted Group (AGEL RG-1) comprising Adani Green NG (UP) Ltd., Parampujya Solar NG Pvt. Ltd., Tribe Developers Pvt. Ltd. (2) Adani Green NG Ltd. Restricted Group (AGEL) RG-2) which also includes Wardha Solar (Maharashtra) Pvt Ltd, Kodangal Solar Parks Pvt Ltd and Adani Renewable NG (RJ) Limited, (3) Adani Transmission Step-One Limited (ATSOL), Barmer Power Transmission Services Limited, Raipur Adani Transmission in Restricted Group 1 (AESL RG1) -Ranjangaon-Warora Transmission Limited, Sipat Transmission Limited, Thar Power Transmission Services Limited, Hadoti Power Transmission Services Limited, Chhattisgarh-WR Transmission Limited and (5) Adani Electricity Mumbai Limited (AEML).
Moody’s has also downgraded the ratings of Adani Ports and Special Economic Zone Ltd (APSEZ) and Adani International Container Terminal Pvt Ltd to negative from stable. Fitch Ratings also on rupee and dollar bond ratings of six Adani group companies Adani Ports and Special Economic Zone Ltd., Mumbai International Airport Ltd. (MIAL), Adani Energy Solutions (AESL), Adani Electricity Mumbai (AEML) and East Queensland Export Terminals Pvt. Keeps an eye. Ltd. has been made negative.
Among Adani group companies, Adani Ports & SEZ fell Rs 37.65 or 3.23 per cent to Rs 1128.80, Adani Green NG Ltd fell Rs 68.25 or 7.05 per cent to Rs 899.40, Adani NG Solutions Ltd fell Rs 23.70 or 3.79 per cent to Rs 601.15, Adani Enterprises Adani Power fell by Rs 107.85 or 4.78 per cent to Rs 2149.80, Adani Power fell by Rs 9.10 or 2.04 per cent to Rs 437.75, Adani Total Gas fell by Rs 21.05 or 3.50 per cent to Rs. 579.70, Adani Wilmar Rs 7.25 i.e. K was up by Rs 2.44 per cent or Rs 290.35, ACC was up Rs 26.90 or 1.26 per cent at Rs 2115.95, Ambuja Cement was down Rs 11.65 or 2.31 per cent at Rs 493.45, NDTV fell Rs 1.85 or 1.11 per cent at Rs 164.75.