Fitch upgrades outlook for Adani Ports, Energy
Fitch Ratings has bumped up its outlook for Adani Ports (APSEZ) and Adani Energy Solutions (AESL) from "Negative" to "Stable."
This comes after the Adani Group pulled in over $24 billion from onshore and offshore lenders since late 2024, even after a US indictment involving board members of Adani Green Energy Limited.
AESL also managed to raise $1.8 billion in fresh debt during this time, with $1.6 billion from domestic banks and the rupee bond market, and $200 million from foreign banks.
APSEZ and AESL's operations
APSEZ runs 15 ports and handles about a quarter of India's seaborne cargo—pretty massive.
AESL supplies most of Mumbai's electricity and operates across 14 states.
Both companies are backed by steady regulations and reliable cash flow, making them financially solid despite recent scrutiny.
Fitch's upgrade is a positive sign for the companies
This upgrade signals less risk for these companies and shows they're on firmer financial ground now.
For anyone watching India's big infrastructure players, it's a sign that things are stabilizing—even after some rocky headlines last year.