S&P revises outlook on Adani Ports, other group firms to negative; flags funding, cash flow risks after bribery charges

S&P's rating outlook revisions come in the wake of US prosecutors indicting Gautam Adani and two other board representatives for their alleged involvement in a $250 million bribery scheme related to solar power contracts in India.

November 26, 2024 / 17:26 IST

S&P revises outlook on Adani Ports, other group firms to negative; flags funding, cash flow risks after bribery charges

S&P Global Ratings has revised its outlook on three Adani Group entities -- Adani Ports and SEZ Ltd, Adani Green Energy Ltd (AGEL RG2) and Adani Electricity Mumbai Ltd, Adani Ports and Special Economic Zone Ltd -- to negative, in a rating action on five Adani Group entities. The rating firm cited potential risks to Adani Group’s cash flows, access to funding, funding costs and governance, following bribery charges filed in the US against founder Gautam Adani.

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S&P revises outlook on Adani Ports, other group firms to negative; flags funding, cash flow risks after bribery charges

S&P's rating outlook revisions come in the wake of US prosecutors indicting Gautam Adani and two other board representatives for their alleged involvement in a $250 million bribery scheme related to solar power contracts in India.

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