Adani Indictment Seen as Credit Negative for Group, Moody's Says -- Market Talk

Dow Jones2024-11-21

0929 GMT - The U.S. Justice Department's indictment of Adani Group's founder and Chairman Gautam Adani and other senior officials is seen as credit negative for the group's companies, Moody's Ratings says in a note. The ratings agency says its main focus when assessing the Adani firms is "on the ability of the group's companies to access capital to meet their liquidity requirements and on its governance." Adani Group stocks saw sharp declines in Indian trading. Adani Enterprises, Adani Green Energy and Adani Ports & Special Economic Zone are all down by more than 10%.(jihye.lee@wsj.com)

(END) Dow Jones Newswires

November 21, 2024 04:29 ET (09:29 GMT)

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