Moody's says indictment of Gautam Adani on bribery charges credit negative for group

Moody's Ratings on Thursday said it will look at Adani group's governance practices when assessing the ports-to-energy conglomerate's ability to access capital in the aftermath of indictment of the group head Gautam Adani on bribery charges.

"The indictment of Adani Group's chairman and other senior officials on bribery charges is credit negative for the group's companies," Moody's Ratings said in a statement.

"Our main focus when assessing Adani Group is on the ability of the group's companies to access capital to meet their liquidity requirements and on its governance practices," Moody's said.