Fitch Affirms ‘BBB-‘ ratings for Adani Electricity Mumbai’s dollar bond
Fitch Ratings affirmed ‘BBB-‘ rating on Monday for Adani Electricity Mumbai Ltd’s (AEML) dollar-denoinated senior secured notes due in 2030.
The affirmation reflects the view that the Hindenburg report alleging governance issues at the Adani group has a limited near-term impact on AEML’s cost of funding and access thereof, at the current rating level.
The rating agency said in a statement that high cash-flow visibility from regulated assets, regulator-approved capex and an adequate liquidity position with no major debt maturity till February 2030 further support AMEL’s financial flexibility.
