Fitch says two Adani entities face contagion risks

Published on 29 Mar 2023 on Reuters via Yahoo Finance

Fitch says two Adani entities face contagion risks

(Reuters) -Ratings agency Fitch said two Adani Group subsidiaries were exposed to "heightened contagion risks", possibly affecting their financial flexibility, due to weak governance at the parent conglomerate and other companies in the group.

Adani Transmission Ltd and Adani Ports and Special Economic Zone "would be capped at current rating level of 'BBB-/Stable' till alleged concerns are ironed out," Fitch said in an emailed statement on Wednesday.

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