Fitch affirms IOC rating, warns of 50-60% EBITDA drop in FY27
Fitch Ratings affirmed Indian Oil Corporation’s BBB- rating with a Stable outlook, matching India’s sovereign rating due to strong state support, despite forecasting a 50-60% EBITDA drop in FY27 from geopolitical stress and higher costs. Fitch Ratings has affirmed Indian Oil Corporation’s Long-Term Foreign-Currency Issuer Default Rating at BBB minus with a Stable outlook, equalising … Read more