Fitch Affirms India’s HBCL Biofuels debt rating

In India, Reuters reports that Fitch Ratings confirmed its “A” rating of Hindustan Biofuels Corporation Limited, the biofuels division of parent company Hindustan Petroleum Corporation Limited, rated AAA, adding that its outlook for the new biofuels company is stable.

It added that the rating continues to reflect the 100% ownership of HBCL by the parent company, its control of day-to-day HBCL operations, as the fact that the top management of the biofuel division belong to the parent company, and that the parent company is also responsible for financial decisions.

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