Fitch reiterates Bharat Petroleum at BBB-minus rating with negative outlook

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Fitch Ratings has affirmed Bharat Petroleum Corporation Ltd‘s (BPCL’s) long-term foreign-currency issuer default rating at BBB-minus with a negative outlook. The rating agency has also affirmed BPCL’s senior unsecured rating and the ratings on its outstanding senior unsecured debt at BBB-minus. Fitch has also affirmed the rating on subsidiary BPRL International Singapore Pte Ltd’s US dollar guaranteed notes […]

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India Budget – Government plans to merge state-owned firms to create oil giant

India plans to create a state-owned oil giant through mergers for more market heft as its energy demand grows. “We seek opportunities to strengthen our central public-sector enterprises through consolidation, mergers and acquisitions,” Finance Minister Arun Jaitley said while presenting the 2017-18 annual budget. “It will give them the capacity to bear high risk, avail […]

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