Fitch revises Adani Ports and AESL outlook to stable, affirms ‘BBB

Fitch Ratings has revised the Outlook on Adani Ports and Special Economic Zone Limited’s (APSEZ) Long-Term Foreign-Currency Issuer Default Rating (IDR) and unsecured note rating to Stable, from Negative, and has affirmed the ratings at ‘BBB-‘. The rating agency also revised Adani Energy Solutions Limited’s (AESL) outlook to Stable from Negative and affirmed its Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘BBB-‘.

“We expect liquidity and funding to remain commensurate with APSEZ’s ratings, with financial flexibility supported by its cash flows, which are driven by a robust portfolio of seaports, a degree of capex flexibility and demonstrated credit market access. While the timing and eventual outcome of the US investigation and its impact on Adani group is un