Credit ratings agency Moody's warned on Friday that the recent sell-off in Adani group's shares after a short-seller's report could reduce the Indian conglomerate's ability to raise capital, while its peer Fitch saw no immediate impact on its ratings.
Hindenburg Research's scathing attack last week on the group has questioned its debt levels and use of tax havens, but Adani has called the report baseless and affirmed its financials are strong.
"These adverse developments are likely to reduce the group's ability to raise capital to fund committed capex or refinance maturing debt over the next 1-2 years. We recognise that a portion of the capex is deferrable, and the rated entities do not have significant maturing debt until FY2025," Moody's said in a statement.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Exclusive: Adani made scheduled U.S. bond payments, to release credit report Friday -sourcesAdani Group entities made scheduled coupon payments on outstanding U.S. dollar-denominated bonds on Thursday, a bondholder and a source with direct knowledge of the Indian conglomerate's strategy told Reuters.
Leer más »
Adani vs Hindenburg: Adani's wealth tanked $52 billion in 6 daysGautam Adani lost $52 billion in 6 days. That's over 3 times what Sam Bankman-Fried lost in a similar timeframe.
Leer más »
Adani vs Hindenburg: Adani's wealth tanked $52 billion in 6 daysGautam Adani lost $52 billion in 6 days. That's over 3 times what Sam Bankman-Fried lost in a similar timeframe.
Leer más »
TotalEnergies says has limited exposure to Adani Group companiesFrench oil major TotalEnergies SE said on Friday its exposure to ventures with India's Adani Group is limited and is not re-evaluating its stakes in Adani Total Gas and Adani Green Energy .
Leer más »
Indian shares fall as insurance companies drag; Adani Group stocks tumbleIndian shares reversed earlier gains to trade lower on Wednesday, led by a fall in insurance companies after the country's Union budget proposed to limit tax exemptions for insurance proceeds, while Adani Group shares tumbled.
Leer más »
Indian shares fall as Union budget drags insurance cos; Adani Group stocks tumbleIndian shares reversed earlier gains to close lower on Wednesday, led by a fall in insurance companies after the country's Union budget proposed to limit tax exemptions for insurance proceeds, while Adani Group shares tumbled.
Leer más »