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NEW DELHI: Ratings company Fitch mentioned two Adani group subsidiaries are uncovered to “heightened contagion risks”, presumably affecting their monetary flexibility, resulting from governance weak point on the mum or dad conglomerate and different Adani group firms.
Fitch mentioned that Adani Transmission Ltd and Adani Ports and Special Economic Zone are liable to risks, based on a observe launched late on Tuesday.
Fitch early final month mentioned it had seen no speedy impression on its scores of Adani group entities and their securities following quick-vendor Hindenburg Research‘s January 24 report on the conglomerate.
Seven listed companies of the Adani group have shed over $120 billion in market worth because the report that alleged improper use of tax havens and inventory manipulation by the ports-to-vitality conglomerate – expenses it has denied.
Fitch nonetheless mentioned “cash flow generation from January 2023 to March 2024 will boost the liquidity of the rated groups.”
Fitch mentioned that Adani Transmission Ltd and Adani Ports and Special Economic Zone are liable to risks, based on a observe launched late on Tuesday.
Fitch early final month mentioned it had seen no speedy impression on its scores of Adani group entities and their securities following quick-vendor Hindenburg Research‘s January 24 report on the conglomerate.
Seven listed companies of the Adani group have shed over $120 billion in market worth because the report that alleged improper use of tax havens and inventory manipulation by the ports-to-vitality conglomerate – expenses it has denied.
Fitch nonetheless mentioned “cash flow generation from January 2023 to March 2024 will boost the liquidity of the rated groups.”
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