InvestorQ : What is the Fallen Angels list from which Moody’s has exited six Indian companies?
Mary Joseph made post

What is the Fallen Angels list from which Moody’s has exited six Indian companies?

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Arusha Ray answered.
3 weeks ago
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Moody’s normally defines Fallen Angels list as a set of companies that risk losing their investment grade ratings. There are a number of Indian companies that have been in the Moody’s Fallen Angels list. Now Moody’s exited 6 Indian companies from the list of “Fallen Angels” following the upgrade in its rating outlook.

The 6 exiting entities included ONGC, OIL, IOCL, HPCL, Petronet LNG and Ultratech Cements. There is now a cushion between these companies and an immediate downgrade. However, BPCL is still in the list of Fallen Angels as the divestment plans have created ownership uncertainty. Fallen Angels have to contend with higher cost of funds for refinancing.

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