Fitch revises outlook of IOC, NTPC among other state-owned firm to negative

Fitch Ratings on Tuesday said it has revised the outlook on ratings of six government-owned firms such as Indian Oil Corp (IOC), NTPC and GAIL to ‘negative’ from ‘stable’, following a change in outlook on sovereign India rating.

The PSUs whose rating outlook has been revised include IOC, Bharat Petroleum Corp Ltd (BPCL), Oil India Ltd (OIL), GAIL India Ltd, Power Grid Corp of India Ltd and NTPC Ltd.