Fitch affirms ‘BBB-‘ rating of Adani Electricity Mumbai, its $2-billion note programme
Fitch Ratings on Monday affirmed the credit rating of Adani Electricity Mumbai, saying the Hindenburg Research report alleging governance issues at the Adani group has a limited near-term impact on the company’s cost of funding.
In a statement, the rating agency said, it has affirmed the ‘BBB-‘ rating on Adani Electricity Mumbai Ltd (AEML) US dollar senior secured notes due 2030.
It has also affirmed AEML’s $2-billion global medium-term note programme and notes issued under the programme at ‘BBB-‘.
‘BBB’ indicates investment grade rating with relatively higher credit risk.
