{"id":97001,"date":"2023-03-24T11:25:00","date_gmt":"2023-03-24T05:55:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=97001"},"modified":"2023-03-24T10:57:19","modified_gmt":"2023-03-24T05:27:19","slug":"biz-adani-ports-fitch","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-adani-ports-fitch\/","title":{"rendered":"Fitch Ratings affirms &#8216;BBB-&#8216; rating on Adani Ports with stable outlook"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3513175952\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Fitch Ratings on Thursday affirmed its &#8216;BBB-&#8216; rating on Adani Ports and Special Economic Zone Limited with a stable outlook, saying the Hindenburg report has a limited near-term impact on APSEZ&#8217;s cost of funding.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3426520143\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Hindenburg Research in a January 24 report accused Adani group of &#8220;brazen stock manipulation and accounting fraud&#8221; and using a number of offshore shell companies to inflate stock prices.<\/p><p>The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.<\/p><p>&#8220;Fitch Ratings has affirmed India-based port operator Adani Ports and Special Economic Zone Limited&#8217;s (APSEZ) Long-Term Foreign-Currency Issuer Default Rating (IDR) at &#8216;BBB-&#8216;. The Outlook is Stable,&#8221; it said.<\/p><div class=\"trade-content_5\" id=\"trade-722609416\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The Hindenburg report alleging significant governance issues for the Adani Group has triggered a sharp fall in Adani Group entities&#8217; equity and bond prices.<\/p><p>&#8220;The affirmation reflects its view that the Hindenburg report alleging governance issues at the Adani group has a limited near-term impact on APSEZ&#8217;s cost of funding and access at the current rating level,&#8221; Fitch said.<\/p><p>The rating agency said it expects APSEZ&#8217;s financial flexibility to remain supported by its robust portfolio of seaports, which comprises strategically located assets with best-in-class operational efficiency and an adequate liquidity position.<\/p><p>&#8220;APSEZ&#8217;s internal cash surplus is sufficient to cover its near-term operations and debt obligations as well as its budgeted capex,&#8221; Fitch noted.<\/p><p>According to Fitch, about half of APSEZ&#8217;s cargo is sticky, which includes contractual take-or-pay cargo, cargo that is unlikely to be diverted to other ports due to infrastructure restrictions, such as the lack of facilities to handle crude oil and cargo from joint-venture partners.<\/p><p>It noted that APSEZ has timing flexibility in its expansion projects. PTI BKS BKS BAL BAL<\/p><div class=\"trade-content-10\" id=\"trade-3054259104\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-3077118822\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Fitch Ratings on Thursday affirmed its &#8216;BBB-&#8216; rating on Adani Ports and Special Economic Zone Limited with a stable outlook, saying the Hindenburg report has a limited near-term impact on APSEZ&#8217;s cost of funding. Hindenburg Research in a January 24 report accused Adani group of &#8220;brazen stock manipulation and accounting fraud&#8221; and using a number [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":25385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-97001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fitch Ratings affirms &#039;BBB-&#039; rating on Adani Ports with stable outlook - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Fitch Ratings on Thursday affirmed its &#039;BBB-&#039; rating on Adani Ports and Special Economic Zone Limited with a stable outlook, saying the Hindenburg report has a limited near-term impact on APSEZ&#039;s cost of funding.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-adani-ports-fitch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fitch Ratings affirms &#039;BBB-&#039; 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