Moody’s downgrades outlook for oil PSUs, financial institutions


Moody’s downgrades outlook for oil PSUs, financial institutions

Credit rating agency Moody’s has downgraded the ratings outlook for top oil PSUs — Indian Oil Corporation Limited (IOCL), Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL), Oil and Natural Gas Corporation Ltd. (ONGC), Oil India Limited (OIL) and Petronet LNG Limited (PLL) — besides IT majors Infosys and Tata Consultancy Services to ‘negative’ from ‘stable’. This, after it changed the outlook on India’s Baa2 sovereign rating to negative from stable.  Read More

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