Moody's unit revises outlook to negative for Adani Ports, Adani Total Gas

Ratings agency Moody's unit ICRA on Friday revised the outlook for Adani Group's ports and energy businesses to negative from stable, citing a deterioration in the Indian conglomerate's "financial flexibility".

The outlook turned negative for the Adani Ports and Special Economic Zone Ltd and Adani Total Gas Ltd, following a sharp decline in share prices and an increase in the yield of international bonds raised by the Adani group entities, ICRA said.