Fitch Revises Outlook for Adani Group Entities, Affirms Ratings

Fitch Ratings has revised the outlook for four Adani Group entities from negative to stable, affirming their long-term foreign and local-currency issuer default ratings at 'BBB-'. This revision reflects a moderation in the risks associated with the group's liquidity and funding requirements. Despite ongoing US investigations into corporate governance practices, Fitch noted that Adani entities have demonstrated adequate access to funding, including significant onshore and offshore borrowings. However, the agency will continue to monitor the investigations for any signs of governance weaknesses that could impact financial flexibility. The stable outlook suggests that while challenges remain, the group's financial resilience has improved, allowing it to manage its obligations effectively for now.

Source: Financial Times