Global credit rating agency, Moody’s Investor Service has rated Baa2 (stable) rating to Oil India (OIL). This is the maiden international credit rating evaluation of the Government-owned oil and gas explorer.
Baa2 rating reflects the baseline credit assessment of baa2, which is one notch higher than the rating given by Moody’s to the Government of India (Baa3 stable).
OIL has historically maintained a conservative financial profile. However, OIL plans to fund its expansion activities with a mix of operating cash flows and debt. This rating would help OIL access international markets for raising debt through bonds.
