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Moody’s reaffirms Baa3 rating of IOC

06 Jan 2017 Evaluate

Moody’s Investors Service has affirmed the Baa3 ratings of state-owned oil refining and marketing company Indian Oil Corporation (IOC). The outlook on the rating of oil refining and marketing company is positive.

The ratings affirmation reflects the continued improvement in the credit metrics of the company, as diminished levels of fuel subsidies and moderated working capital requirement - resulting from low oil prices - have reduced borrowings.

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.

Peers
Company Name CMP
Reliance Industries 1176.25
Indian Oil Corpn. 131.65
Bharat PetroleumCorp 298.00
HPCL 344.50
MRPL 165.20
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