Moody’s upgrades rating on four Adani Group companies

Moody’s upgrades rating on four Adani Group companies

New Delhi: Moody's Investors Service has affirmed the ratings on eight Adani Group companies. It changed the outlook on four of the Group companies to stable from negative and maintained the stable outlook on the other four companies. Outlook changed to stable from negative for Adani Green Energy Limited; outlook changed to stable from negative for Adani Green Energy Restricted Group (AGEL RG-1) comprising Adani Green Energy (UP) Limited, Parampujya Solar Energy Private Limited and Prayatna Developers Private Limited; outlook remains stable for Adani Green Energy Restricted Group (AGEL RG-2) comprising Wardha Solar (Maharashtra) Private Limited, Kodangal Solar Parks Private Limited and Adani Renewable Energy (Rj) Limited. Similarly, outlook changed to stable from negative for Adani Transmission Step-One Limited; outlook changed to stable from negative for Adani Electricity Mumbai Limited; outlook remains stable for Adani Energy Solutions Limited Restricted Group 1 (AESL RG1) comprising Barmer Power Transmission Service Limited, Raipur-Rajnandgaon-Warora Transmission Ltd, Sipat Transmission Limited, Thar Power Transmission Service Limited, Hadoti Power Transmission Service Limited and Chhattisgarh-WR Transmission Limited. The outlook remains stable for Adani Ports and Special Economic Zone Limited (APSEZ) and Adani International Container Terminal Private Ltd. In February 2023, Moody's revised the outlook on four rated Adani