Business
Greensill fallout: Gupta’s Infrabuild given junk bond status on contagion fears – The Australian Financial Review
Moody’s has heavily downgraded the credit ratings of Sanjeev Gupta’s biggest business in Australia over the Greensill knock-on.
Mr Moore said this contagion risk could impact InfraBuilds operations,specifically its customer and supplier relationships.
Mr Moore said Moodys has limited visibility into the overall financial strength of the GFG group of companies.
But Moodys believes that, given the highly visible issues facing Greensill and GFGs history of utilising financing from Greensill, there is potential for contagion risk for InfraBuild.
Specifically, Moodys believes that the issues facing Greensill may create ongoing…
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