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Adani Row: Adani group company removed from watch list by US rating agency, know details

Pankaj Prasad
Adani group company
Adani group company

Adani Group company Adani Green has been removed from under-criteria observation by US credit rating agency S&P Global.

Adani Group company Adani Green has been removed from under-criteria observation by US credit rating agency S&P Global. According to media reports, the rating agency has affirmed its rating on Adani Green Energy, the business conglomerate which has been facing massive losses since the publication of the Hindenburg report, at BB+ with a 'stable outlook'.

Restricted Group-2 of the company includes Vardha Solar, Adani Renewable Energy and Kodangal Solar Park. The group is also the co-issuer and co-guarantor of the $3625 million green bond issued by Adani group companies. These bonds have a maturity of 20 years and a weighted average life of 13.47 years.

A day earlier, Fitch Ratings had affirmed Adani Transmission's rating at 'BBB' with 'stable outlook'. Let us tell you that on Wednesday, Adani Power has announced the cancellation of its plan to acquire a coal plant project in Chhattisgarh.

While informing the stock market on Wednesday, Adani Power said, "We would like to inform that the date of long moratorium on the MoU dated August 18, 2022 has expired."