Fitch Ratings has affirmed ‘BBB-‘ rating on Adani Green Energy Ltd Restricted Group 2’s USD 362.5 million senior secured notes (bonds), implying a low risk of default.Assigning a stable outlook, the rating agency said that credit assessment is supported by the company’s 570MW solar portfolio across two Indian states and long-term fixed-price power purchase agreements (PPAs).The Adani Green Energy Limited Restricted Group 2’s (AGEL RG2) consists of 570MW of polycrystalline solar projects, a proven technology with a long operating history, a Fitch rating issued on Friday said.
