Fitch placed Adani bonds on negative watch due to U.S. bribery charges

From Investing.com: 2024-11-25 21:44:48

Fitch ratings placed Adani Group bonds on watch for downgrade after executives were indicted on U.S. charges of bribery and fraud. Bonds issued by units like Adani Energy Solutions and Adani Transmission Step-One are currently BBB- rated. Fitch cited increased corporate governance and funding risks due to the U.S. indictment.

The ratings agency mentioned no immediate liquidity risks for Adani but warned of potential funding access issues in the future. The U.S. charges could impact the group’s corporate governance practices and lead to negative rating actions. Adani founder Gautam Adani and others are accused of bribing Indian officials for solar contracts and misleading U.S. investors during capital raising.



Read more at Investing.com: Fitch places some Adani bonds on negative watch after US bribery charges By Investing.com