Fitch lifts Adani Energy rating watch, first upgrade since US indictment

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Fitch lifts Adani Energy rating watch, first upgrade since US indictment - Business Standard

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The group company, AGEL, has also raised onshore funding to refinance its $1.1 billion construction-linked facility, which was due in March 2025.

The rating agency went on to add that AESL has demonstrated adequate funding access since the US indictment, having drawn Rs 5,100 crore from onshore and offshore banking facilities.

Since the US indictment of group chairman Gautam Adani and two other key executives in an alleged bribery scheme to win renewable energy supply contracts, the conglomerate has shown solid resilience with no compromise on the credit profile and business performance.Adani's new $2.