Fitch Ratings on Monday said uncertainty over the bidder consortiums and process complexity, including valuation, may lead to potential delays in privatisation of India’s second-largest fuel retailer, Bharat Petroleum Corporation Ltd (BPCL). Affirming BPCL NSE -0.64 %’s rating at ‘BBB-‘ with a negative outlook, Fitch said it continues to treat the potential divestment of the company by the Indian government as an event risk.
“Bidders are conducting due diligence, but uncertainty over the bidder consortiums and process complexity, including valuation, may lead to potential delays.
