Moody’s downgrades senior unsecured debt of Indian Oil Corporation – foreign currency


Indian Oil Corporation announced that Moodys’ Investor service (Moody’s), the credit rating agency downgraded India’s sovereign rating to Baa3 from Baa2 (outlook remains negative). IndianOil’s rating is closely related to that of the Indian government.

As a result, Moodys downgraded the credit rating of IndianOil’s debt instrument, viz. Senior unsecured debt in foreign currencies one notch at Baa3 compared to Baaz2, in line with the deterioration of the sovereign rating.

Powered by Capital Market – Live News

(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and cutting edge commentary on relevant current issues.
However, we have a demand.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital editor


Comments are closed.