MENU SEARCH
Tags: Moodys | Finance | Adani | India | International | Capital | Economy

Portion of Adani Group's Capex Is Deferrable: Moody's

Portion of Adani Group's Capex Is Deferrable: Moody's

Saturday, 04 February 2023

Chennai, Feb 3 (IANS) Global credit rating agency Moody's Investors Service on Friday said a portion of Adani Group's planned capital expenditure is deferrable.

Moody's also said the adverse developments relating to the Adani Group - rapid decline in market value of the group company's shares- will impact the group's ability to raise capital.

In a note issued on Friday, Moody's said the credit ratings for Adani Ports and Special Economic Zone Limited, Adani Green Energy Limited, and Adani Transmission Limited are underpinned by their regulated infrastructure businesses with long-term sales contracts, or their strong operating cash flows and dominant market position.

"Given the significant and rapid decline in the market equity values of the Adani Group companies following the recent release of a short-seller report highlighting governance concerns, our immediate focus is primarily on assessing the rated entities' overall financial flexibility, including their liquidity position and access to funding to support refinancing and ongoing growth initiatives," Moody's said.

"Nevertheless, these adverse developments are likely to reduce the group's ability to raise capital to fund committed capex or refinance maturing debt over the next 1-2 years. We recognise that a portion of the capex is deferrable, and the rated entities do not have significant maturing debt until FY2025," Moody's added.

© 2024 IANS. All rights reserved.

Newsfront
Chennai, Feb 3 (IANS) Global credit rating agency Moody's Investors Service on Friday said a portion of Adani Group's planned capital expenditure is deferrable. Moody's also said the adverse developments relating to the Adani Group - rapid decline in market value of the...
Moodys, Finance, Adani, India, International, Capital, Economy, India
210
2023-18-04
Saturday, 04 February 2023
Newsmax Media, Inc.
 
TOP

Newsmax and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax India are trademarks of Newsmax Media, Inc.

NEWSMAX.IN
Real News for Real People
© Newsmax Media, Inc.
All Rights Reserved