Fitch removes Adani Energy from ‘Rating Watch Negative’ list, hails long-term revenue visibility. \”We believe the risks associated with the group’s liquidity and funding requirements have moderated,\” said the global ratings agency. The low operating risk profile of transmission assets and AESL’s strong operating performance provide \”long-term Revenue visibility\” says Fitch. Last month, global brokerage Elara Capital initiated coverage on Adani energy Solutions Ltd (AESL) with a ‘BUY’ rating and a share price target of Rs 930 — implying a 37 per cent potential upside from the current market price. The company has won a bid to install 22.8 million smart meters across five Indian states, under a design, build, finance, own, operate and transfer structure. It has also raised onshore funding to refinance its $1.1 billion construction-linked facility, which was due in March 2025, said the Elara note. It is expected that the company will post robust growth in its transmission, distribution, and smart meters businesses.