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Outlook On Three Indian Companies Revised To Negative Following Sovereign Rating Action
Standard & Poors, February 2009
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
SINGAPORE (Standard & Poor's) Feb. 24, 2009--Standard & Poor's Ratings Services said today that it had revised the outlooks on the ratings on the following three Indian companies to negative from stable and at the same time affirmed the ratings: --NTPC Ltd. (BBB-/Negative/--); --NHPC Ltd. (BBB-/Negative--); and --Indian Oil Corp. Ltd. (BB+/Negative/--). The outlook revisions follow the similar action taken on the sovereign credit ratings on India (BBB-/Negative/A-3) (see "Research Update: India's Outlook Revised To Negative On Increasing Fiscal Deficit; 'BBB-' Rating Affirmed," published Feb. 24, 2009, on RatingsDirect). The outlook revision on the sovereign reflects our view that India's fiscal position has deteriorated to a level that is not sustainable over the medium term. The outlooks were revised on...
Companies mentioned in this report are: NTPC Ltd.,India (Republic of) (Unsolicited Ratings),Indian Oil Corp. Ltd.,NHPC Ltd.
Action: Outlook: Negative
NTPC Ltd.,India (Republic of) (Unsolicited Ratings),Indian Oil Corp. Ltd.,NHPC Ltd.