Ratings agency Moody's said on Tuesday that it had cut the outlook on the ratings of seven Adani entities to 'negative' from 'stable,' citing the U.S. indictment of Chairman Gautam Adani and others on alleged bribery charges,

Moody's downgraded the outlook for seven Adani Group companies. Fitch also took negative rating actions on several Adani entities and bonds. These actions followed Gautam Adani's indictment in a US bribery scandal.

India's Andhra Pradesh state is likely to put its power purchase deal linked to Adani Group 'in abeyance citing the U.S. indictment' of the group's billionaire founder Gautam Adani in an alleged bribery scheme,

India's Andhra Pradesh state is reviewing government files and will explore if it is possible to cancel a power supply contract linked to the Adani Group, whose billionaire founder has been indicted in the United States,

US authorities have charged Gautam Adani and seven others for allegedly paying $265M in bribes to Indian officials to secure solar power contracts in 2021-2022.