New Delhi: The Adani group is facing severe setbacks since the report of the American research firm Hindenburg. Adani’s share price continues to decline continuously. On January 24, Hindenburg gave his report on the Adani group, after which there has been continuous blow after blow. Amidst the setback Adani is facing, there is a relief news. A good news has come from abroad. Global rating agency S&P has removed Adani Green from monitoring, giving relief to Adani Group. Adani Green has not only not been removed from watch, but has retained its BB+ rating.
US credit rating agency S&P has maintained BB+ rating on Adani Green Energy. Investors’ confidence will increase after this relief news. The rating agency had placed Adani Green Energy under Criterion Observation in December 2022. The agency has now dropped him from this list. He said that the review of Adani Green has been completed. He said that the date of Adani Green Energy Limited RG2 is fully secured. According to the rating agency, Adani Green has three operating units Vargha Solar, Koingal Solar and Adani Renewable. Units of Adani Green is the co-issuer and co-guarantors of $362.5 million senior secured fixed rate 20-year bonds. This report is no less than a sanjeevani for this company which is facing continuous decline. The confidence of Adani’s investors will return.
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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.