Adani Group Adani Green Energy Moody’s Charges Negative
Moody’s Rating on Adani Group : Moody’s Investors Service (Moody) has made the rating of Adani Green, a company of Adani Group of Asia’s big businessman Gautam Adani, negative. Moody’s has released the rating of 8 companies of Adani Group today. Moody’s Service has today confirmed the change in rating of 8 companies of Adani Group. In which 4 companies of Adani Group have been changed from Stable to Negative (Stable to Negative) rating. Know what is the reason…
This is the company with negative rating
Adani Green Energy Restricted Group (AGEL RG-1) comprising Adani Green Energy (UP) Limited, Parampujya Solar Energy Private Limited, Prayas Developers Private Limited, Adani Transmission Step-One Limited (ATSOL); and Adani Electricity Mumbai Limited (AEML) has been changed from Stable to Negative.
The ratings of these 4 companies were kept stable
Moody’s has kept the rating of 4 companies of Adani Group stable. These include Adani Ports and Special Economic Zone Limited (APSEZ), Adani International Container Terminal Private Limited (AICTPL); Adani Green Energy Restricted Group (AGEL RG-2) including Wardha Solar (Maharashtra) Pvt Ltd, Kodangal Solar Parks Pvt Ltd, Adani Renewable Energy (RJ) Ltd; and Adani Transmission Restricted Group 1 (ATL RG1) which includes Barmer Power Transmission Service Limited, Raipur-Rajnandgaon-Worora Transmission Limited, Sipat Transmission Limited, Thar Power Transmission Service Limited, Hadauti Power Transmission Service Limited and Chhattisgarh-WR Transmission Limited.
What does Moody’s say about the rating action
Regarding the rating action, Moody’s said, “The senior secured bond rating of AGEL has been affirmed taking into account the long-term power purchase agreement (PPA).
what moodies said
In fact, after the report of American short seller Hindenburg Research, there has been a huge fall in the price of shares of Adani group companies. Giving information about its decision, Moody’s said that “Hindenburg Research report has found allegations of fraud and manipulation”. After the market capitalization of the group companies, there has been a huge decline, keeping this in mind, this step has been taken.
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