In accordance with the Regulation 30 read with Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, Indian Oil Corporation has informed 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 IndianOil’s debt instrument ‘Senior Unsecured Debt-Foreign Currency’ from ‘BBB-Stable’ to ‘BBB-Negative’, in line with the change in outlook of the Sovereign rating. The updated credit rating is attached and the same has also been hosted on the website of the Company www.iocl.com.
The above information is a part of company’s filings submitted to BSE.
