Adani Group has sufficient liquidity, operational cash flows to meet its debt obligations: CRISIL

Adani Group has sufficient liquidity and operational cash flows to meet its debt obligations and planned capital expenditures in the medium term, said CRISIL Ratings on Friday.

- STATESMAN NEWS SERVICE

The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to sustain operations, it said in a bulletin. The agency rates Adani group's infrastructure and holding entities.

"CRISIL Ratings has taken note of these developments and their likely impact on the financial flexibility of the group, including the fall in the market capitalisation of the listed companies of the group, movement in bond yields, and calling off the $600 million bond offering of AGEL," it said.