“The exuberance that has been reflected in the financial markets will really fade unless we see some significant improvements from the government as also in Sri Lanka's growth prospects,” said Moody's Analytics.
Moody's sees bank exposure to Adani not large to affect credit quality. However it added that risks for banks can increase if Adani becomes more reliant on bank loans.
ICRA-rated Adani Group entities do not have any immediate refinancing requirements, but requirements are expected for some entities from fiscal year 2025 onwards.