New Delhi: India's Adani Group, controlled by billionaire Gautam Adani, is "deeply overleveraged" and its many investments in capital-intensive businesses could pose long-term risks to investors, Fitch Group's debt research unit CreditSights said on Tuesday.
The conglomerate's debt-funded growth plans could spiral "into a massive debt trap" and culminate in distress or default of its companies and the broader Indian economy in a "worst-case scenario", CreditSights said.
