Adani
Despite turmoil, Adani gets boost from S&P rating
Mumbai/IBNS: American Credit Rating Agency S&P Global has affirmed its rating on trouble-laden Adani Group with a stable outlook, media reports said.
S&P has rated Adani as BB+.
Also it has removed the Adani Group from under-criteria observation.
Media reports said S&P stated RG2's debt is completely secured, Livemint reported.
S&P had placed Adani Green under criteria observation.
Adani's shares nosedived after a Hindenburg Research accused Gautam Adani-led ports-to-power conglomerate of accounting fraud and stock manipulation.
The report had alleged that Adani Group had engaged in stock manipulation and accounting fraud schemes over the course of decades.
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