Adani Group's troubles deepened on Tuesday as two more credit rating agencies cut their outlook for the Indian conglomerate, whose billionaire founder Gautam Adani has been charged by U.S. authorities over an alleged $265 million bribery scheme.

Sign up here.A US agency that agreed to lend more than $500 million to an Adani Group-backed port development in Sri Lanka said it’s still conducting due diligence on the project, following bribery allegations against the conglomerate’s billionaire founder and other top executives.

The U.S. International Development Finance Corporation is evaluating the implications of recent bribery allegations against Gautam Adani, founder of the Adani Group, on its prior commitment to lend over $550 million for a port development project in Sri Lanka.

A U.S. agency said on Sunday that it is reviewing the impact of Department of Justice bribery allegations against the founder of India's Adani Group on the agency's prior agreement to lend more than $550 million to a Sri Lankan port development backed by the group.