The ratings for eight other Adani Group companies remain unchanged as 'stable'. (File)
Credit ratings agency Moody's has revised the outlook of four Adani Group companies to 'stable' from 'negative' in view of timely debt repayments and ability to raise funds.
The ratings for Adani Green Energy, Adani Green Energy Restricted Group 1, Adani Transmission, and Adani Electricity have been revised, said a report by Moody's Investors Services.
The ratings for eight other Adani Group companies remain unchanged as 'stable'.
The report said that Adani group has demonstrated financial strength and ability to raise funds, and has completed a number of debt transactions over the past year.
"In the ensuing period, the Group has completed a number of debt transactions, including refinancing as well as obtaining new loan facilities, demonstrating its continued access to debt capital at a reasonable cost. At the same time, several high profile equity transactions by large institutional and strategic investors, such as GQG and Qatar Investment Authority, also demonstrated the Group's continued equity market access," the report said.
A credit rating indicates a company's ability to fulfil its financial commitments and any change in such ratings often influence the stock prices.
The ratings of the four companies were revised to 'negative' in February last year after the Adani Group suffered a stock rout sparked by Hindenburg Research's market manipulation charges.
Adani Group now stands cleared of the charges with the Supreme Court saying there is no apparent regulatory failure attributable to markets regulator SEBI.
Moody's said the Supreme Court order has curbed the potential tail risk in a downside scenario for the Adani Group companies.