Fitch affirms Hindustan Petroleum

Fitch Ratings said it affirmed Hindustan Petroleum Corp. Ltd.'s national long-term rating at AAA(ind), along with its two non-convertible debenture programs of Rs. 10 billion each at AAA(ind).

The outlook is stable.

The ratings reflect the company's majority ownership by the government of India, its position as one of the three public sector oil refining and marketing companies in India, dominant position occupied by public sector companies in the national oil industry and strong linkage with and strategic importance to the state, Fitch said.

The ratings may be negatively affected if the linkages between the government and the company weaken, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.