Fitch Ratings has assigned a negative outlook to Indian energy infrastructure company Adani Energy Solutions Limited , citing concerns over corporate governance and potential risks from ongoing U.S. investigations.

Fitch Ratings affirmed Adani Energy Solutions' 'BBB-' ratings but removed them from 'Rating Watch Negative'. Despite improved funding access, the outlook remains negative due to ongoing US investigations into governance.

Fitch Ratings has upgraded the company's credit rating at 'BBB-' from its 'Ratings Watch Negative' list. This is the first upgrade by the international ratings agency since the US indictment of certain board members of its another group entity,

Fitch Ratings cut the outlook on Adani Energy Solutions Ltd. to negative on concerns that US investigations could reveal that the group’s corporate governance practices are weaker than its expectation.

Fitch Ratings has removed Adani Energy Solutions from 'Rating Watch Negative' and affirmed its Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-'.In a statement Monday, Fitch affirmed the said ratings,