In 1st rating action, S&P cuts outlook on 2 Adani companies to negative
In the first rating action since the Hindenburg report, S&P has lowered the outlook on Adani Ports and Adani Electricity to negative from stable. The ratings agency cited the deterioration in the credit profile of Adani Ports and Adani Electricity Mumbai due to governance risks and funding challenges for the larger Adani Group.
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