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Oil & Natural Gas Corpn Ltd.

BSE: 500312 Sector: Oil & Gas
NSE: ONGC ISIN Code: INE213A01029
BSE 00:00 | 24 Apr 2020 Oil & Natural Gas Corpn Ltd
NSE 05:30 | 01 Jan 1970 Oil & Natural Gas Corpn Ltd

Announcement under Regulation 30 (LODR)-Credit Rating

April 1, 2020, 7:38 pm | Source: BSE

Pursuant to Regulation 30 read with Part A - Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 (Listing Regulations) the extract of the rating report of Moodys Investors Service is placed under for your reference and records:

Moodys Investors Service has downgraded Oil and Natural Gas Corporation Ltd.s (ONGC) local and foreign currency issuer ratings to Baa2 from Baa1.

At the same time Moody has also downgraded (1) ONGCs baseline credit assessment (BCA) to baa2 from baa1; (2) the senior unsecured bonds issued by ONGC to Baa2 from Baa1; (3) the senior unsecured bonds guaranteed by ONGC and issued by ONGC Videsh Limited and ONGC Videsh Vankorneft Pte. Ltd. to Baa2 from Baa1; and (4) the foreign and local senior unsecured ratings on ONGC Videsh Limited and ONGCs MTN program to (P)Baa2 from (P)Baa1.