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Moody’s revises Adani Abbot Point view to stable
Moody’s Investors Service said it revised the outlook on Adani Abbot Point Terminal Pty. Ltd. to stable from positive and affirmed the Ba2 senior secured ratings.
“The outlook revision to stable considers the weakening operating conditions and rising ESG risks facing AAPT’s coal mining counterparties,” said Arnon Musiker, a Moody’s senior vice president, in a press release.
The revision also considers refinancing risk, with A$170 million maturing in November, A$150 million in September 2021 and $500 million of notes maturing in 2022, the agency said.
“Moody’s understands that AAPT is in the process of refinancing this year’s maturing debt,” the agency said.
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