Global rating agency, Moody’s Investor Service has assigned Baa3 corporate family rating to Petronet LNG. The outlook on the rating is stable. The company has been assigned rating equivalent to that of the sovereign. This is the first time that Petronet has gone for a credit rating from an international rating agency.
Petronet LNG reported 57.44% fall in its net profit at Rs 135.55 crore for the quarter as compared to Rs 318.50 crore for the same quarter in the previous year. However, total income from operations of the company increased by 11.34% at Rs 9382.12 crore for quarter under review, as compared to Rs 8422.78 crore for the quarter ended December 31, 2012.
