Nov 26 (Reuters) - Ratings agency Fitch has put some of

Adani Group's bonds on watch for a possible downgrade after some

of the firm's key executives were indicted by U.S. authorities

on bribery charges.

Adani Energy Solutions Ltd, Adani Electricity

Mumbai and some of Adani Ports and Special Economic Zone

rupee and dollar bonds are now on "watch negative",

Fitch said.

Ratings on four Adani subsidiary senior unsecured dollar

bonds were downgraded from stable to negative, the agency said.

Fitch said it would monitor the U.S. investigation for any

impact on Adani's financial position, "particularly any material

deterioration in near- to medium-term funding access, including

their ability to roll over existing credit lines or access new

facilities, as well as potentially higher credit spreads".

French oil major TotalEnergies said on Monday it

would halt financial contributions to its Adani Group

investments following last week's indictment.

U.S. prosecutors have charged billionaire Gautam Adani,

founder of the Adani Group, and seven others for their alleged

roles in a $265 million scheme to bribe Indian officials to

secure power-supply deals.

The Adani Group has said the accusations as well as those

levelled by the U.S. Securities and Exchange Commission in a

parallel civil case were "baseless and denied" and that it would

"seek all possible legal recourse".

Adani dollar bonds steadied on Tuesday and prices rose

slightly after three days of heavy falls.

Prices on some of the more liquid Adani Ports and Special

Economic Zone debts maturing between 2027

and 2041 were up between

half a cent and 1.5 cents on the dollar. They have fallen about

8-12 cents since news of the indictment.