15 Jun 2022 , 03:12 PM
As Indian Oil’s rating outlook is closely related with that of Government of India, Fitch has also upgraded the rating outlook for Indian Oil’s debt instrument.
It has upgraded the outlook for the company’s Senior Unsecured Debt – Foreign Currency from existing ‘Negative’ to ‘Stable’ to match the change in the outlook of the Sovereign rating.
However, the rating agency has reaffirmed the rating of such instruments as ‘BBB-’.
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