Key Points
S&P Global Ratings revised its outlook for India's Adani Ports and Special Economic Zone and Adani Electricity Mumbai to stable from negative on signs of robust cash flow in the next 12 to 24 months...
Adani Ports' ratio of adjusted net debt to earnings before interest, tax, depreciation and amortization - a measure of its ability to pay off liabilities - is expected to be in the range of 3x to 4x over the next two years, S&P said.. Empower Your Corporate Journey with Strategic Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Venture Capital and Private Equity ProgramVisitIIM LucknowIIML Chief Operations Officer ProgrammeVisitUniversity of Western AustraliaUWA Global MBAVisit..
For Adani Electricity, the agency expects its ability to generate operating cash flow compared to its debt to improve to above 10% in fiscal 2024 and 2025...
S&P, however, said it could lower the rating on Adani Ports if it takes loans or advances outside normal business or if its ratio of funds from operations to debt stays below 15%...
S&P said the conclusion of most investigations without evidence of wrongdoing has reduced downside risk, but governance concerns persist due to the group's ambitious growth plans and related-party transactions outside the normal course of business...
