The rating agency has kept ratings and outlook unchanged for Bank of India, Canara Bank, Oriental Bank of Commerce, Syndicate Bank and Union Bank of India. NEW DELHI: After downgrading India’s outlook from stable to negative, Moody’s Investors Service on Friday revised outlook of six financial institutions to negative from stable, including the State Bank of India and HDFC Bank . Moody’s reaffirmed the ratings for them. Others that have seen a downgrade in outlook are Exim Bank, Hero FinCorp, Hudco and Indian Railway Finance Corporation (IRFC). The rating agency has kept ratings and outlook unchanged for Bank of India, Canara Bank, Oriental Bank of Commerce, Syndicate Bank and Union Bank of India. The agency has also downgraded the outlook for eight non-financial corporates to negative from stable. They are BPCL, HPCL, Indian Oil, ONGC, Oil India , Petronet LNG, Infosys and Tata Consultancy Services. In case of Exim Bank, Hudco, IRFC and SBI, Moody’s Investors Service said close links between these four companies and the government of India is the key reason for their downgrade. Moody’s has changed the outlook for these companies to negative from stable, after doing the same for the sovereign rating. Moody’s believes that […]