Fitch Ratings has revised the outlook on Bharat Petroleum Corporation (BPCL) to negative from stable and affirmed the long term Issuer Default Rating (IDR) at BBB- with the revision of the outlook on sovereign rating of India. The rating assigned by Fitch Ratings to BPCL is BBB- (Negative) in respect of Senior Unsecured Debt- Foreign Currency.
BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.