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.
BSF apprehends 19 Bangladeshis, three Indians in Tripura
The Border Security Force (BSF) have arrested 19 Bangladesh nationals and three Indian nationals including a tout from different districts of Tripura, officials said on Wednesday.
J.P. Nadda to address mega rally on 2nd anniversary of BJP 2.0 govt in Tripura
Bharatiya Janata Party (BJP) President J.P. Nadda will address a massive public rally in Agartala on March 9 on the occasion of the second anniversary of the Manik Saha-led BJP 2.0 government in Tripura.
Mukhyamantri Samipeshu: CM Manik Saha extends assistance to people
In the 38th edition of the Mukhyamantri Samipeshu, citizens from various parts of the state met Chief Minister Prof. (Dr.) Manik Saha to seek assistance regarding their grievances and issues.
MP Kriti Devi Debbarman chairs DISHA meeting, reviews progress of various projects
The Khowai District Disha Committee meeting was held today at the conference hall of the District Magistrate's Office, presided over by MP Kriti Devi Debbarman. The meeting focused on reviewing the progress of various central and state government projects being implemented by different departments in the district.
CM visits TIPRA Motha President BK Hrangkhawl in Hospital
Chief Minister Prof. Dr. Manik Saha today visited TIPRA Motha Party President and veteran leader Bijoy Kumar Hrangkhawl, who is currently receiving treatment at a private hospital in Agartala following an illness.
Tripura Traffic Inspector held for Rs 74 Lakh embezzlement
Tripura Police on Wednesday arrested an Inspector of its traffic unit for allegedly embezzling Rs 74 lakh from the Bishalgarh Traffic Police Unit under Sepahijala District.
87 investors signed MoUs to invest Rs 3,700 crore in Tripura: CM Saha
Tripura Chief Minister Manik Saha on Tuesday said that 87 investors from different parts of the country signed Memorandums of Understanding (MoUs) promising to invest Rs 3,700 crore across different sectors, during the recent investors’ summit in Agartala.
Mizoram capital to come on Indian railway map within 5 months
Mizoram's Aizawl will be the fourth capital city in the northeast region to be joined by a railway link, and within five months, with the Bairabi-Sairang new line project at an advanced completion stage, officials said on Tuesday.