Hindenburg report: Sebi discusses Adani firms with ratings agencies
India’s market regulator met with ratings agencies to discuss Adani Group companies, according to people familiar with the matter, after a short-seller’s scathing report eroded more than $69 billion of the conglomerate’s stock market value.
Assessors including Crisil Ltd., the local arm of S&P Global Ratings, made a presentation to the Securities and Exchange Board of India in recent days, said the people, who declined to be identified as the discussions were private.
The finances of companies backed by Gautam Adani, Asia’s richest man, have come into focus after short seller Hindenburg Research accused the group of corporate malpractice. But there has been no suggestion it would struggle to make debt payments or that the meeting with ratings agencies is more than routine dialog.
