Indian Oil Corporation receives upgrade in credit ratings

From Moody's

Indian Oil Corporation announced that Moody's Investor Service 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, Moody's has upgraded the credit rating ~ outlook of Indian Oil's debt instrument viz. Senior Unsecured Debt Foreign Currency from Baa3 Negative to Baa3 Stable, in line with the change in outlook of the Sovereign rating.

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