4 Adani Group Bonds Rated 'Overweight', JP Morgan Says Liquidity Stable
Adani Group companies' liquidity needs seem stable after tabulating the near-term maturities for offshore debt, said JP Morgan. Adani Green bond issue - which has a decent-size loan of over a billion dollars - will be in focus, it added.
The brokerage said Adani Group bonds have gone through a period of volatility after the US indictments of some management and board members linked to Adani Green. The spreads of the bonds seem to have settled since and widened by 100-200 bps, it said, adding that short-tenor bonds spreads widened more due to high dollar prices.
