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Moody's reviews BPCL's rating for downgrade on government stake sale

Nov 27, 2019 13:50 IST

 Moody's has placed BPCL's rating on review for a downgrade, after the government decided to privatise the country's second-biggest state oil refiner.

Moody's said the review for downgrade takes into account the uncertainty with respect to the support incorporated into BPCL's rating, and a re- rating will depend on the ability and willingness of the buyer to provide extraordinary support to BPCL in the event of distress.