{"id":560242,"date":"2023-03-04T09:34:51","date_gmt":"2023-03-04T04:04:51","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=560242"},"modified":"2023-03-04T10:02:06","modified_gmt":"2023-03-04T04:32:06","slug":"icra-downgrades-outlook-on-adani-ports-adani-total-to-negative","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/icra-downgrades-outlook-on-adani-ports-adani-total-to-negative\/","title":{"rendered":"Icra downgrades outlook on Adani Ports, Adani Total to &#8216;negative&#8217;"},"content":{"rendered":"<p>Icra revised the rating outlook for two Adani group entities &#8212; Adani Ports and Special Economic Zone Ltd (APSEZ) and Adani Total Gas Ltd (ATGL) &#8211; from \u201cstable\u201d to \u201cnegative\u201d on account of the deterioration in the Group\u2019s financial flexibility. The agency, however, affirmed the ratings on the long-term loans of Adani Ports Ltd at \u201cAA+\u201d and of Adani Total Gas Ltd at \u201cAA-\u201d.<\/p>\n<p>This follows a sharp decline in share prices and an increase in the yield of international bonds raised by group entities, after a report on the group was released by US-based short seller Hindenburg Research.<\/p>\n<p>The Group\u2019s strong financial flexibility and APSEZL\u2019s track record of refinancing a large part of debt with borrowings (mostly from overseas debt capital markets)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Icra revised the rating outlook for two Adani group entities &#8212; Adani Ports and Special Economic Zone Ltd (APSEZ) and Adani Total Gas Ltd (ATGL) &#8211; from \u201cstable\u201d to \u201cnegative\u201d on account of the deterioration in the Group\u2019s financial flexibility. The agency, however, affirmed the ratings on the long-term loans of Adani Ports Ltd at \u201cAA+\u201d and of Adani Total Gas Ltd at \u201cAA-\u201d. This follows a sharp decline in share prices and an increase in the yield of international bonds raised by group entities, after a report on the group was released by US-based short seller Hindenburg Research. The [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-560242","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/560242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=560242"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/560242\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=560242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=560242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=560242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}