Credit rating agency, Fitch Ratings has assigned Indian Oil Corporation (IOC) proposed senior unsecured notes an expected rating of BBB-(exp). The final rating is contingent upon the receipt of final documents conforming to information already received.
The company’s ratings are equalized with its majority owner, the Government of India (BBB-/Stable), given the company’s strong linkage with, and strategic importance to, the state.
Recently, the company announced that it is eyeing to raise $500 million through an offshore issue of bonds for which the company has picked up BNP Paribas, Royal Bank of Scotland Group Plc and Citigroup for the issue.
IOC is the country's biggest fuel refiner and retailer with crude processing capacity of 1.314 million barrels per day.
Company Name | CMP |
---|---|
Reliance Industries | 3019.60 |
Indian Oil Corp. | 175.15 |
BPCL | 665.10 |
HPCL | 580.00 |
MRPL | 212.70 |
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