S&P: Three India GREs view to negative

Standard & Poor's said it revised the outlooks on three Indian corporate government-related entities (GREs) to negative from stable.

S&P also said it affirmed the BBB- long-term issuer credit ratings on these entities, including its NTPC Ltd., NHPC Ltd. and Steel Authority of India Ltd.

The outlook revisions reflect the change in outlook on the Republic of India, S&P said.

The ratings are highly influenced by the sovereign rating given the entities' sensitivity to government intervention in the event of financial distress, the agency said.

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