S&P puts Adani Transmission's ESG rating under review on governance issues

Will closely monitor developments, including any investigations by the Indian regulators and any additional disclosures by the Adani group, S&P said in a statement

Global rating agency Standard and Poor's (S&P) has placed Adani Transmission Ltd's (ATL) environmental, social, and governance (ESG) evaluation under review. This follows recent allegations of significant governance lapses at the Adani group of companies.

On January 24, 2023, a short-seller report (Hindenburg report) claimed there were significant governance issues at the Adani group. Many allegations relate to disclosures and actions at the shareholder level. Since then, equity and bond prices have plummeted for the group's entities, including ATL.

"We will closely monitor developments, including any investigations by the Indian regulators and any additional disclosures by the Adani group," S&P