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Bribery charges to hit fundraising plans of Adani Group
The New Indian Express
|November 22, 2024
THE indictment of Adani Group, its promoters and executives by the US authorities in a bribery case could negatively impact the fund-raising process of the Adani group.
Immediately after the charges of bribery became public, the renewable energy arm of the Adani Group -- Adani Green Energy -- on Thursday scrapped a $600 million bond issue.
Experts told TNIE that raising of funds through debt instruments could get negatively impacted as it depends on the company's credit rating, which could get impacted by the bribery charges. Rating agency Moody's has already said the bribery charges could be credit negative.
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