Moody’s acts on more Indian companies

Moody’s Investors Service said it downgraded the following seven Indian infrastructure issuers by one notch. The companies are NTPC Ltd., NHPC Ltd., National Highways Authority of India, Power Grid Corp. of India Ltd., Gail (India) Ltd., Adani Green Energy Restricted Group and Adani Transmission Restricted Group. The outlooks are negative.

Moody’s also revised the outlooks to negative from stable for Adani Ports and Special Economic Zone Ltd., Adani Transmission Ltd., Adani Electricity Mumbai Ltd. and Azure Power Solar Energy Private Ltd.

The changes follow the downgrade and change in outlook to negative for India on Monday, Moody’s said.

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