Adani hit by downgrades as projects under review in India, Sri Lanka
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 26 2024
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Source: Reuters
Adani Group's Financial Troubles: The Adani Group faces significant financial challenges as two credit rating agencies downgraded their outlook following U.S. indictments related to a $265 million bribery scheme, resulting in a loss of $34 billion in share value across its companies.
Impact on Projects and Partnerships: Andhra Pradesh is likely to suspend a power purchase deal with the group, while partners are reassessing their projects, and ratings agencies are monitoring potential downgrades for Adani bonds, indicating increased scrutiny and risk for the conglomerate.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
