Indian Oil Corporation announced that Credit Rating Agency Fitch has revised the credit rating outlook of Government of India. The rating outlook of Indian Oil is closely linked with that of the Government of India.
As a result, Fitch has downgraded the credit rating outlook of Indian Oil's debt instrument viz. Senior Unsecured Debt Foreign Currency from BBBStable to BBB- Negative, in line with the change in outlook of the Sovereign rating.
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