by rating agency comes in a FAQstyle commentary published on Wednesday titled Adani Group The Known Unknowns Like much of the market we are waitingfor more information about Adani Group before deciding the direction of our ratings We believe further details on governance, funding risks over 1224 months would drive ratings said SP Global Ratings credit analyst Abhishek DangraSP said Downside risks could stem not just from restricted access to funding but also from our broader view on the quality of the groups governanceIn February SP revised to negative the outlook on Adani Electricity, Adani Ports Special Economic Zone According to SP this reflected the governance risks, funding challenges of the wider group SP also affirmed the BBB ratings on these entitiesAssessing the groups creditworthiness leverage, liquidity position is difficult given our reliance on public information for unrated listed entities We also rely on limited disclosures of unlisted private entities, of funding or liabilities at the promoter level said SP Global Ratings credit analyst Richard LangbergMuch of the focus of the rating agency is on relatedparty transactions Most of the Adani Group companies ended in the green on Wednesday barring Adani Enterprises, Ports, Adani
Published in The Times of India (Online) (23.03.2023)