Adani Energy Solutions has received the following ratings action from Fitch Ratings:

a. Affirms Adani Energy Solutions' (AESL) Long Term Foreign- and Local-Currency Issuer at 'BBB-' and removed from Rating Watch Negative (RWN) and assigned a Negative Outlook;

b. The 'BBB-' ratings on the US dollar senior secured notes issued by Adani Electricity Mumbai have been affirmed and removed from Rating Watch Negative (RWN); and

c. The 'BBB-' ratings on the notes issued by AESL's subsidiary, Adani Transmission Step One, have also been affirmed with a removal of RWN status.