Credit rating agency, India Ratings & Research (Ind-Ra) has affirmed Indian Oil Corporation’s (IOC) long-term issuer rating at ‘AAA’. The outlook is stable. The rating continues to reflect the company’s position as India’s largest oil refining and marketing company and the dominant position occupied by public sector companies (PSCs) in the national oil industry.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.