Fitch Group’s CreditSights discovers errors in debt report on Adani Group firms

Thursday, 8 September 2022Newsdesk

As per news report of The Indian Express, Fitch Group’s debt research unit CreditSights, which had raised red flags over Adani Group being over-leveraged, said in a new report that it “has discovered calculation errors” in its recent debt report on two Adani Group companies, following a conversation with the management. However, it also pointed out that the latest “corrections” did not change its investment recommendations.

New Delhi, 08 September 2022

“In a follow-up to our report outlining our credit concerns with Adani Group companies, we are presenting this piece to reconcile our calculations with Adani Group’s presentation. We have also spoken with Adani Group’s CFO (Mr. Jugeshinder (Robbie) Singh), Head of Corporate Finance (Mr. Anupam Misra) and Head of Ratings (Mr. Rahul Kumar) during the week of 22 August,” CreditSights said in a report dated September 7.

Source - The Indian Express