ICRA lowers Adani Total Gas, Adani Ports' outlook to 'negative'

ICRA lowers Adani Total Gas, Adani Ports' outlook to 'negative'

• By Staff Writer

Rating agency ICRA has revised its outlook for Adani Total Gas Limited and Adani Ports from "stable" to "negative". The decision has been taken due to "the deterioration in the Adani Group's financial flexibility" following the release of Hindenburg Research report, ICRA said. The agency also sees an "increased risk" of regulatory scrutiny on the group's entities.