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Fitch affirms Indian Oil Corporation's rating at 'BBB-'

21 Jul 2020 Evaluate

Credit Rating Agency Fitch has affirmed 'BBB-' rating on state-owned Indian Oil Corporation (IOC) with a negative outlook on the expectation of gradual recovery in refining volume and margins in the second quarter. The rating assigned to the company is equal to its largest shareholder, the state of India.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

Peers
Company Name CMP
Reliance Industries 1166.00
Indian Oil Corpn. 132.00
Bharat PetroleumCorp 301.00
HPCL 346.00
MRPL 164.70
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