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Two months after Hindenburg report, Fitch affirms 'BBB-' rating on Adani Ports with stable outlook

The Hindenburg report had alleged ‘brazen stock manipulation and accounting fraud’ and use of offshore shell companies to inflate stock prices. The group has denied all Hindenburg allegations, calling them ‘malicious’, ‘baseless’ and a ‘calculated attack on India’.
Fitch Ratings Adani Group Economic Zone Limited Adani Ports Special Economic Zone Limited Long Term Foreign Currency Issuer Default Rating

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