Moody’s unit revises outlook to negative for Adani Ports, Adani Total Gas

NEW DELHI: Ratings agency Moody’s unit ICRA on Friday revised the outlook for Adani Group’s ports and energy businesses to negative from stable, citing a deterioration in the Indian conglomerate’s “financial flexibility”.

The outlook turned negative for the Adani Ports and Special Economic Zone Ltd and Adani Total Gas Ltd, following a sharp decline in share prices and an increase in the yield of international bonds raised by the Adani group entities, ICRA said.

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