CARE has reaffirmed ‘BBB+’ rating to Essar Oil’s Long-term Bank Facilities worth of Rs 3,057.84 crore. The rating agency has also reaffirmed A3+ rating to company’s Short-term Bank Facilities worth of Rs 13,515.00 crore.
The ratings continue to derive strength from the experience of EOL’s promoters (the Essar Group) and consistently strong operational performance with higher capacity utilization & better complexity after the completion of oil refinery expansion & optimization during FY13.
Essar Oil is a fully integrated oil & gas company of international scale with strong presence across the hydrocarbon value chain from exploration & production to refining and oil retail.
