Moody s upgraded the ratings of two green energy firms and two electricity generation and distribution firms following improved financials, timely debt repayments and a capital infusion.
The restricted group s financial profile with debt-service coverage ratio (DSCR) of 1.44 times is stronger than that commensurate with a BBB- rating for the asset portfolio. This reflects considerable rating headroom at the current level, Fitch said.
Shares of most companies from the Adani group fell on Friday after US-based index provider MSCI cut free-float designations of four scrips from the Adani group,