Fallout from US$250m Adani bribery case continues
A possible hit to Adani Group's access to funding after major rating agencies cast doubt on the outlook for the Indian conglomerate, amid deepening fallout from allegations made by US authorities over bribery and fraud. Moody's has reduced its ratings on seven Adani entities to "negative" from "stable". Fitch has placed some of its bonds on a watch-list for a possible downgrade to "negative '. This follows S&P Global's earlier move to lower its outlook for three Adani-linked firms to "negative". Rebecca Bundhun reports from Mumbai.
A possible hit to Adani Group's access to funding after major rating agencies cast doubt on the outlook for the Indian conglomerate, amid deepening fallout from allegations made by US authorities over bribery and fraud. Moody's has reduced its ratings on seven Adani entities to "negative" from "stable". Fitch has placed some of its bonds on a watch-list for a possible downgrade to "negative '. This follows S&P Global's earlier move to lower its outlook for three Adani-linked firms to "negative". Rebecca Bundhun reports from Mumbai.
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