Ratings agency Moody’s said on Tuesday that it had cut the outlook on the ratings of seven Adani entities to ‘negative’ from ‘stable,’ citing the U.S. indictment of Chairman Gautam Adani and others on alleged bribery charges, which could likely weaken the group’s access to funding and increase its capital costs.
Moody’s also affirmed the ratings on all seven entities, which include Adani Ports and Special Economic Zone Limited and two limited restricted groups of Adani Green Energy.
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