Fitch affirms Adani Transmission's restricted group notes at 'BBB-'; outlook stable
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Fitch Ratings has affirmed the 'BBB-' ratings on the USD 400 million senior secured notes issued by the restricted group of India-based Adani Transmission Ltd. The outlook is stable, the statement from Fitch said. However, Fitch said the project companies have a longer-term residual exposure to inflation in light of the mismatch between the operating and maintenance (O&M) cost escalation rates and the largely unindexed revenue base.