India’s oil majors to raise borrowings to cover dividends and capex: Moody’s

India’s three major state-held oil refining and marketing firms—Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) — are slated to increase borrowings to keep their large dividend payments and high capital spend, said Moody’s Investors Service. “These companies’ large dividend payments and high capital spending levels will keep their credit […]

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