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Fitch stabilizes view on Indian issuers
Fitch Ratings said it revised the outlook on the long-term issuer default ratings of 11 Indian issuers to stable from negative and affirmed their ratings.
The affirmations and outlook revisions follow a similar action on India’s rating and outlook on Friday, the agency said.
The issuers are Bharat Petroleum Corp. Ltd., GAIL (India) Ltd., Indian Oil Corp. Ltd., NTPC Ltd., Oil India Ltd., Oil and Natural Gas Corp. Ltd., Power Grid Corp. of India Ltd., Hindustan Petroleum Corp. Ltd., Oil India International Pte. Ltd., Reliance Industries Ltd. and Adani Transmission Ltd.
Fitch rates all the issuers BBB-, except for Reliance’s BBB foreign-currency IDR.
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