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Moody's lowers major Indian corporates’ ratings to ‘negative’
Why it is in News?
- Global credit ratings agency Moody's Investors Services has downgraded the ratings of major Indian companies including state-owned energy firms
More on News
- It includes 4 State-owned energy firms - ONGC, OIL, IOCL and BPCL
- Moody's joint default analysis approach for state-owned firms – government support is major consideration
- each firm has been downgraded by one notch in the background of downgrade of the sovereign rating
- Moody also downgraded Indian Infrastructure companies such as National Thermal Power Limited (NTPC), NHPC Limited (NHPC), National Highways Authority of India (NHAI), Power Grid Corporation of India Limited (Power Grid), Gail (India) Limited (GAIL), Adani Green Energy and Adani Transmission.