Despite turmoil, Adani gets boost from S&P rating
Mumbai/IBNS: American Credit Rating Agency S&P Global has affirmed its rating on trouble-laden Adani Group with a stable outlook, media reports said.
S&P has rated Adani as BB+.
Also it has removed the Adani Group from under-criteria observation.
Media reports said S&P stated RG2's debt is completely secured, Livemint reported.
S&P had placed Adani Green under criteria observation.
Adani's shares nosedived after a Hindenburg Research accused Gautam Adani-led ports-to-power conglomerate of accounting fraud and stock manipulation.
The report had alleged that Adani Group had engaged in stock manipulation and accounting fraud schemes over the course of decades.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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