Adani Group's troubles deepened as two more credit rating agencies cut their outlook for the Indian conglomerate.

Ratings agency Moody's said on Tuesday that it has cut the outlook on the ratings of seven Adani entities to 'negative' from 'stable', citing the US indictment of Chairman Gautam Adani and others on alleged bribery charges,

Fitch Ratings has placed several Adani Group bonds on "watch negative" following the U.S. indictment of key executives from the Indian conglomerate on bribery charges. This includes bonds from Adani Energy Solutions Ltd,

The U.S. International Development Finance Corp last November said it would provide $553 million in financing for the port terminal project in Colombo, the capital of Sri Lanka. The project is partly owned by the Adani Group.