S&P revises Adani Ports, Adani Electricity outlook from stable to negative

Both run risk of deterioration in credit profile, says agency; Fitch doesn't see immediate impact

Global rating agency Standard and Poor’s (S&P) on Friday revised the outlook on Adani Ports and Special Economic Zone and Adani Electricity from ‘stable’ to ‘negative’. This follows the risk of a deterioration in the credit profile to two entities due to governance risks and funding challenges for the larger Adani Group.

"There is a risk that investor concerns about the group's governance and disclosures are larger than we have currently factored into our ratings, or that new investigations and negative market sentiment may lead to increased cost of capital and reduce funding access for rated entities," S&P said in