Moody's upgrades ratings of nine Indian state-owned firms
Global credit rating agency Moody's Investors Service on Friday upgraded issuer ratings of nine Indian state-owned firms. These include 5 companies in the oil and gas sector namely ONGC, Indian Oil, Bharat Petroleum, Hindustan Petroleum and Petronet LNG. Moody's said this follows the upgrade of India's sovereign rating to 'Baa2' from its lowest investment grade of 'Baa3' on Friday.