Fitch affirms rating on Bharat Petroleum at ‘BBB-’; outlook stable

[Bilgin]

Fitch affirms rating on Bharat Petroleum at ‘BBB-’; outlook stable Fitch expects BPCL to generate gross marketing losses in FY23, as oil marketing companies bear the largest burden of surging crude oil prices, with only limited increases being passed on to consumers despite cuts in taxes on retail sales.