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Fitch affirms Gail India
Fitch Ratings said it affirmed Gail (India) Ltd.’s long-term foreign-currency issuer default rating at BBB-.
The outlook is stable.
Gail's ratings are capped at BBB-, which is the rating of its parent, the state of India.
Fitch said the company’s dominant market position in the regulated utility gas-transmission business, complemented by its diversification into other business segments and its healthy credit metrics, support a BBB standalone profile.
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