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Fitch Ratings has assigned India-based Oil India a long-term foreign-currency issuer default rating (IDR) at 'BBB-'. The outlook is stable. The senior unsecured debt rating is also 'BBB-'.
Public sector upstream oil companies Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) are likely to buy 10% government stake in Indian Oil Corporation (IOC) with the petroleum ministry opposing disinvestment of IOC in the market... More..