In February, Moody’s Investor Group announced a change in the outlook for the debt papers of four Adani Group companies from negative to stable. At the same time, the stable outlook for the other four companies was maintained. Moody’s also confirmed the ratings for all eight companies.
The companies with revised outlooks are Adani Green Energy Limited (AGEL), Adani Green Energy Restricted Group (AGEL RG-1), Adani Transmission Step-One Limited (ATSOL), and Adani Electricity Mumbai Limited (AEML). The outlook for Adani Green Energy Restricted Group (AGEL RG-2), Adani Energy Solutions Limited Restricted Group 1 (AESL RG1), Adani Ports and Special Economic Zone Limited (APSEZ), and Adani International Container Terminal Private Ltd (AICTPL) remains unchanged.
This decision by Moody’s follows S&P upgrading the credit outlook for Adani Ports and Adani Electricity from ‘negative’ to ‘stable’ in the preceding weeks.