Leaving Hindenburg behind, Moody’s upgrades four Adani firms
10 months, 1 week ago

Leaving Hindenburg behind, Moody’s upgrades four Adani firms

Live Mint  

US-headquartered ratings firm Moody's upgraded the outlook of two green energy firms and two electricity generation and distribution firms of the Adani Group following improved financials, timely debt repayments and a capital infusion by the group over the past year. On Tuesday, Moody's upgraded the same four Adani firms to stable — Adani Green Energy Ltd, Adani Green Energy Restricted Group-1 Ltd, Parampujya Solar Energy Pvt Ltd and Prayatna Developers Pvt Ltd), Adani Transmission Step-One Ltd. and Adani Electricity Mumbai Ltd. On 29 January, Adani Green Energy said it has completed the funding for $750 million worth of notes due on 9 September 2024 with the receipt of the funds under the preferential allotment of ₹9,350 crore to the promoters of the company. Moody's maintained stable outlook for Adani Green Energy Restricted Group, comprising Wardha Solar Pvt. The outlook for Adani Energy Solutions Ltd Restricted Group 1 comprising Barmer Power Transmission Service Ltd, Raipur-Rajnandgaon-Warora Transmission Ltd, Sipat Transmission Ltd, Thar Power Transmission Service Ltd, Hadoti Power Transmission Service Ltd and Chhattisgarh-WR Transmission Ltd was kept at stable without any change by Moody's.

Energy Green Transmission Group Adani Firms Outlook Stable Leaving Hindenburg Four Adani Firms  upgrades  pvt  outlook  energy  moodys  firms  stable  leaving  hindenburg  transmission  adani  green  group

History of this topic

Adani Group in early talks with investors, lenders to refinance $1.1 billion green energy arm loans
1 week, 6 days ago

Adani Group in early talks with investors, lenders to refinance $1.1 billion green energy arm loans

Live Mint  

The Adani Group has initiated talks with a clutch of investors and banks to refinance $1.1 billion worth of loans of Adani Green Energy Ltd, two persons aware of the discussions said on condition of anonymity. “While the dollar market offers higher tenures, domestic institutions are also offering meaningful long tenures of 10-15 years for extending the refinancing facility," said …

Shares of 6 Adani Group companies, out of 11 listed, decline in mid-session deals
1 week, 6 days ago

Shares of 6 Adani Group companies, out of 11 listed, decline in mid-session deals

Hindustan Times  

Shares of six Adani Group firms, out of 11 listed companies, declined in the mid-session deals on Wednesday, with Adani Green Energy falling more than 2 per cent. The scrip of Adani Green Energy slipped 2.46 per cent to ₹1,147.30 apiece, Adani Ports and Special Economic Zone was down by 1.13 per cent, Adani Power, Adani Energy Solutions and Adani …

Fitch, Moody’s cut rating outlook on Adani group firms to negative from stable
4 weeks ago

Fitch, Moody’s cut rating outlook on Adani group firms to negative from stable

Live Mint  

US-based rating agencies Moody’s and Fitch on Tuesday lowered their outlook for bonds of Adani group companies to negative from stable, following the bribery charges and indictment of certain board members of Adani Green Energy Ltd, including group chairman Gautam Adani, by the US Securities and Exchange Commission, and Department of Justice. Despite the group's assertions about its financial health, …

More trouble for Adani Group as Moody's downgrades outlook for 7 firms
4 weeks, 1 day ago

More trouble for Adani Group as Moody's downgrades outlook for 7 firms

India Today  

The Adani Group is facing increased scrutiny as Moody’s Ratings announced a downgrade of its outlook for seven companies within the group. REASONS FOR THE DOWNGRADE The downgrade comes in the wake of legal troubles involving Gautam Adani, the chairman of Adani Green Energy Ltd, and senior members of the group’s management. AFFECTED ENTITIES The companies affected by Moody’s revised …

Adani indictment rocks equities and bonds alike
1 month ago

Adani indictment rocks equities and bonds alike

Live Mint  

Adani group executives’ indictment in a bribery case in the US roiled the Indian markets, with the conglomerate’s stocks taking a massive hit in the ensuing selloff. A $250 million bribery scheme aimed at influencing Indian officials to secure favourable solar power contracts for Adani Green Energy Ltd and New Delhi-based Azure Power Global Ltd. Shankar Sharma, founder of wealth …

Adani Group shares in free fall today. What should investors do?
1 month ago

Adani Group shares in free fall today. What should investors do?

India Today  

Adani Enterprises Ltd experienced a dramatic share price collapse on Thursday, with stocks plunging as much as 23% to a day-low of Rs 2,171.60. The steep decline comes in the wake of bribery allegations against Group Chair Gautam Adani, creating market turbulence and raising critical questions for investors. Global ratings agency Moody's said the development is "credit negative" for Adani …

Hindenburg controversy: Risk analysis firm flags 'governance issues' across Adani Group's entities
1 year, 9 months ago

Hindenburg controversy: Risk analysis firm flags 'governance issues' across Adani Group's entities

Hindustan Times  

MSCI ESG Research said on Friday it recently changed some of its environmental, social and governance assessments of Adani Group entities, after the Indian conglomerate was caught up in a short-selling storm in recent weeks. This week, MSCI ESG Research flagged all its covered Adani Group entities for the metric of accounting investigations, while some were flagged for the securities …

Adani group firm repays ₹1,500 cr. in comeback strategy
1 year, 10 months ago

Adani group firm repays ₹1,500 cr. in comeback strategy

The Hindu  

Adani group firm Adani Ports & SEZ paid ₹1,500-crore loan and promised to repay more as the embattled conglomerate mapped a comeback strategy after a sellout triggered by a damning report by U.S.-based Hindenburg Research. Adani Ports and SEZ paid SBI Mutual Funds’ due amount of ₹1,500 crore on Monday and will also pay another ₹1,000 crore of commercial papers …

Adani group says no refinancing issues in bid to calm jittery investors
1 year, 10 months ago

Adani group says no refinancing issues in bid to calm jittery investors

Hindustan Times  

Adani group said on Tuesday that its companies face no material refinancing risk, or near-term liquidity issues, in its latest attempt to calm investors spooked by a U.S. short-seller's critical report on its business practices. In a long-awaited credit report issued by Adani to Indian exchanges on Tuesday, the apples-to-airports group said there was "no material refinancing risk and near-term …

Moody's says bank exposure to Adani limited, to not affect credit quality
1 year, 10 months ago

Moody's says bank exposure to Adani limited, to not affect credit quality

Hindustan Times  

Moody's Investor Service on Tuesday said banks' exposures to Adani are not large enough to affect their credit quality materially. "While we estimate that the exposures are larger for public sector banks than for private sector banks, they are smaller than 1 per cent of total loans for most banks," it said. "Risks for banks can increase if Adani becomes …

Moody’s says banks’ exposures to Adani not large enough to affect credit quality
1 year, 10 months ago

Moody’s says banks’ exposures to Adani not large enough to affect credit quality

Live Mint  

Indian banks' exposures to the Adani Group are not large enough to affect their credit quality materially and the overall quality of the local lenders’ corporate loans will be stable, ratings agency Moody's Investors Service said on Tuesday. "While we estimate that the exposures are larger for public sector banks than for private sector banks, they are smaller than 1 …

Moody's says stock plunge to hurt Adani's ability to raise funds
1 year, 10 months ago

Moody's says stock plunge to hurt Adani's ability to raise funds

The Hindu  

Moody's Investors Service on February 3 warned that the rout in Adani Group shares could hurt the conglomerate's ability to raise capital, while its peer Fitch saw no immediate impact on its ratings. "Given the significant and rapid decline in the market equity values of the Adani Group companies following the recent release of a short-seller report highlighting governance concerns, …

Moody's unit says it is monitoring impact on rated portfolio in Adani Group: Report
1 year, 10 months ago

Moody's unit says it is monitoring impact on rated portfolio in Adani Group: Report

Hindustan Times  

Ratings agency Moody's unit ICRA on Wednesday said it was monitoring the impact of recent developments on its rated portfolio in Indian conglomerate Adani Group, whose stocks have plunged after a report by a U.S. short-seller. Listed companies of the conglomerate founded by tycoon Gautam Adani have lost $86 billion since last week after Hindenburg Research accused the group of …

What Jefferies says on Indian banks exposure to Adani Group
1 year, 10 months ago

What Jefferies says on Indian banks exposure to Adani Group

Live Mint  

Indian banks' exposure to the Adani Group is within manageable limits, said global brokerage Jefferies, as the group fend off an attack from well-known US short-seller Hindenburg Research said it held short positions in the Indian conglomerate, accusing it of improper use of offshore tax havens and flagging concerns about high debt that sent the Group stocks to crash for …

‘Mala fide intention to undermine reputation, damage upcoming FPO’: Adani Group responds to Hindenburg report
1 year, 10 months ago

‘Mala fide intention to undermine reputation, damage upcoming FPO’: Adani Group responds to Hindenburg report

The Hindu  

The Adani Group on January 25, dismissed the Hindenburg report, which claimed that key listed companies in the group had “substantial debt”, as “a malicious combination of selective misinformation and stale, baseless and discredited allegations.” Additionally, it alleged that the report’s objective is to damage the group’s upcoming FPO. Hindenburg Research in its report held short positions in Adani Group, …

Discover Related