Bharat Petroleum Corporation (BPCL) has set-up a Medium Term Note (MTN) Programme to facilitate the raising of funds on a regular basis from the international debt capital markets. The aggregate nominal amount of Notes outstanding under the program will not exceed $2 billion (or its equivalent in other currencies).
Fitch Ratings has assigned a ‘BBB-‘ rating and Moody’s Investors Service has assigned a provisional (P) Baa3 rating to the MTN Programme.
BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.