Bharat Petroleum Corporation (BPCL) has received definitive Baa3 senior unsecured foreign currency debt rating for the $500 million 4.625% notes due 2022 from International rating agency, Moody’s Investors Service. The outlook on the rating is stable.
The principal methodology used in rating BPCL was the Global Refining and Marketing Rating Methodology published in December 2009 and Government-Related Issuers: Methodology Update published in July 2010.