Adani Green Energy Responds to S&P Global's Negative Outlook on Certain Adani Entities
Adani Green Energy Ltd (AGEL) has clarified on a media report appearing in business-standard.com on November 22, 2024, regarding S&P Global's revised outlook on certain Adani entities, including AGEL's subsidiaries - Adani Green Energy Ltd Restricted Group 2 Companies. AGEL stated that as per SEBI Listing Regulations, a listed entity is required to make an intimation to the Stock Exchanges for any revision in its rating. However, the revision in rating of Restricted Group 2 companies, being not material, does not require any disclosure. AGEL also responded to the clarification sought by the Stock Exchanges on an article appeared on cnbctv18.com dated November 21, 2024. AGEL confirmed that it does not have any information or event which is required to be disclosed under Regulation 30 of the SEBI Listing Regulations.
Key Highlights
- Adani Green Energy Ltd (AGEL) has responded to a media report by business-standard.com regarding S&P Global's revised outlook on certain Adani entities.
- The revised outlook by S&P Global pertains to AGEL's subsidiaries - Adani Green Energy Ltd Restricted Group 2 Companies.
- As per SEBI Listing Regulations, a listed entity is required to make an intimation to the Stock Exchanges for any revision in its rating.
- However, AGEL stated that the revision in rating of Restricted Group 2 companies, being not material, does not require any disclosure.
- AGEL also responded to the clarification sought by the Stock Exchanges on an article appeared on cnbctv18.com dated November 21, 2024, and confirmed that it does not have any disclosure-worthy information.