Adani Group company likely to be rated higher than sovereign | Business News,The Indian Express
Global credit rating agencies such as S&P and Fitch have assigned the lowest investment grade rating of 'BBB-' to
Adani Group CFO Jugeshinder (Robbie) Singh told a select group of investors on October 10 in New Delhi that an announcement will soon be made of one of the group firms becoming the first Indian firm with all its business in the country, to be rated higher than the sovereign, according to two persons present at the meeting.
Singh, however, did not name the company.
Global credit rating agencies such as S&P and Fitch have assigned the lowest investment grade rating of ‘BBB-‘ to India.
Most companies including public sector giants are rated at par or below the sovereign rating. In June last year, Fitch Ratings upgraded rival billionaire Mukesh Ambani’s Reliance Industries Ltd to a notch above
India’s sovereign rating citing an improving debt profile.
Rating: 5