Oil India announced that consequent to the downgrading of India's sovereign rating by Moody's Investor Service on 01 June 2020 from Baa2 negative to Baa3 negative, the rating agency has also downgraded the
long-term issuer rating of the company (a Government Related Issuer) from Baa2 negative to Baa3 negative, consistent with the downgrade of the sovereign rating.
The Baseline Credit Assessment for OIL has been affirmed at baa3.
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