Tue, Nov 26, 2024 10:54 AM
Adani Green Energy says no new financial commitment under discussion
A Flip by Avya Verma
The US International Development Finance Corporation (DFC), which last year committed a half-a-billion-dollar loan to the Adani group for developing a port in Sri Lanka, has not yet disbursed any money to the Indian conglomerate. “The project has not reached financial close or signed a loan agreement,” a DFC official said in response to Mint’s queries.
Open Flip
Ratings agency Fitch has taken negative rating actions on several Adani Group entities and bonds, putting them on watch for a possible downgrade following the indictment of some of the firm's key executives in the U.S. on bribery charges. Adani Ports, North Queensland Export Terminal, and Mumbai International Airport are among those under review for possible downgrades.
Open Flip
Indian markets reversed course, slipping into negative territory, weighed down by auto and energy stocks, ending a two-day winning streak. The Sensex fell 0.18% to 79,962.71, and the Nifty fell 0.16% to 24,182.50, amid a lack of fresh positive triggers. Indian markets reversed course, slipping into negative territory, weighed down by auto and energy stocks, ending a two-day winning streak.
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