Moody s Investors Service on Friday affirmed an investment grade rating of Baa3 with negative outlook on senior secured bonds of Adani Transmission Ltd (ATL). According to Moody s global rating scale, obligations rated Baa are subject to moderate credit risk. They are considered medium-grade and as such may possess speculative characteristics. Thus, Baa3 is an investment grade rating and a negative outlook indicates downward pressure on the issuer. Moody s Investors Service has affirmed the Baa3 senior secured bond ratings of ATL. The outlook remains negative, a Moody s statement said. According to the statement, the servicing of ATL s bonds is supported by an obligor group that includes ATL and two of its fully owned subsidiaries Maharashtra Eastern Grid Power Transmission Company and Adani Transmission (India) Ltd which operate four transmission lines of more than 5,000 circuit kilometers.
Global trade to grow 7-9% in 2021: Moody’s
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The credit rating agency said that though continued vaccination rollout and policy measures will support the economic recovery, boosting manufacturing activity and trade flows, the risk of new virus variants, a resurgence of infections and new restrictions persists.
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“Companies will focus on multi-supplier, multi-source and reshoring strategies,” Moody’s said.
Moody’s Investors Service on Friday said it expects global trade to grow by 7-9% in 2021, following a 9% contraction in 2020 and that trade volumes will not reach their pre-Covid levels before 2022.
“We expect global trade to grow by 7%–9% in 2021, following a 9% contraction in 2020,” Moody’s said in its Global Trade Monitor-May 2021.
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By Reuters Staff
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April 29 (Reuters) - Ratings agency Moody’s Investors Service on Thursday affirmed Mexico’s long-term foreign-currency and local-currency issuer ratings at “Baa1” and maintained its outlook as “negative.”
Mexico s deterioration in the fiscal accounts has been contained and its economic contraction is likely to be reversed, Moody s said bit.ly/3t2o9aQ in a note.
Reporting by Kanishka Singh in Bengaluru; Editing by Leslie Adler