S&P Global lifts outlook for 3 Adani Group companies
S&P Global Ratings just upgraded its outlook for three Adani Group companies, saying their business is steady and funding is solid—even with ongoing investigations in the background.
Adani Ports now has a "Positive" outlook, while Adani Electricity Mumbai and Adani Green Energy Restricted Group 2 moved up to "Stable."
This comes after last year's downgrade linked to US corruption charges against Gautam Adani.
Despite legal noise, funding and operations running smoothly
Despite all the legal noise, S&P found that these companies haven't missed a beat—funding and operations are running smoothly, with key deals still locked in.
The group even raised over $10 billion in new debt recently (totaling about $30 billion), and banks plus investors are still backing them.
In July, the Adani family pitched in another $1.1 billion to keep things rolling at Adani Green Energy.
For anyone curious about how big business weathers storms, this is one to watch.