Portion of Adani Group’s capital expenditure is deferrable: Moody’s

Global credit rating agency Moody’s Investors Service on Friday said a portion of Adani Group’s planned capital expenditure is deferrable.

Moody’s also said the adverse developments relating to the Adani Group – rapid decline in market value of the group company’s shares- will impact the group’s ability to raise capital.

In a note issued on Friday, Moody’s said the credit ratings for Adani Ports and Special Economic Zone Limited, Adani Green Energy Limited, and Adani Transmission Limited are underpinned by their regulated infrastructure businesses with long-term sales contracts, or their strong operating cash flows and dominant market position.