India's sovereign rating downgrade created six 'fallen angels': Moody's

08:00:00 PM, Tuesday 9th of June 2020 | in business

Moody's Investors Service said that India's sovereign rating downgrade has created six fallen angels. Firms that move from investment grade category to sub-investment grade are referred as Fallen Angles. These 6 include Indian Oil Corporation, Hindustan Petroleum Corporation, Oil India, Petronet LNG, Bharat Petroleum Corporation and Oil and Natural Gas Corporation that have $1 billion of rated bonds for repayment till 2021.