Moody’s Investors Service has revised the outlook on Adani Transmission Limited’s (ATL) rating to stable from negative. At the same time, Moody’s has affirmed ATL’s Baa3 senior secured bond ratings. Ahmedabad-based ATL is the largest private sector participant in India’s power transmission market.
“The change in ATL’s outlook to stable reflects expected improvement in the company’s financial position over the next 12 to 18 months, underpinned by incremental earnings contributions from the Mumbai integrated utility business acquired last year and recently completed greenfield projects,” said Spencer Ng, a Moody’s Vice President and senior analyst. Read More