Fitch assigns negative outlook to India's Adani Energy on US probe risks

Reuters

Mon, Mar 10, 2025, 1:36 AM 1 min read

(Reuters) - Fitch Ratings has assigned a antagonistic outlook to Indian vigor infrastructure institution Adani Energy Solutions Limited, citing concerns implicit firm governance and imaginable risks from ongoing U.S. investigations.

The enactment comes months aft U.S. authorities accused billionaire Gautam Adani and apical Adani Group executives of paying $265 cardinal successful bribes for Indian powerfulness contracts and misleading U.S. investors during fundraising, charges the radical has called "baseless".

Adverse findings from the U.S. investigations could weaken governance standards and trigger a downgrade of the company's standing successful the adjacent to mean term, Fitch said connected Sunday.

It could chopped the standing if the investigations pb to regulatory penalties, restrictions, oregon a nonaccomplishment of marketplace confidence, the standing bureau said.

Fitch removed the institution from its 'rating ticker negative' list, saying risks related to its liquidity and backing had moderated and affirmed its standing for Long-Term Foreign- and Local-Currency Issuer Default Ratings astatine 'BBB-'.

While Adani Energy operates independently, governance concerns astatine the Adani Group level could inactive interaction its superior marketplace entree and liquidity, Fitch said.

(Reporting by Ashna Teresa Britto successful Bengaluru; Editing by Mrigank Dhaniwala)