S&P Global Withdraws 'BBB' Rating on ONGC Videsh Vankorneft's US$600 Million Notes
S&P Global withdrew its 'BBB' rating on ONGC Videsh Vankorneft's US$600M notes. ONGC's 'BBB' issuer rating and US$300M notes rating remain unchanged. Various agencies reaffirmed ratings for ONGC's commercial paper and NCDs.
The withdrawal of the rating for one specific issue is unlikely to have a significant impact on ONGC's overall financial health or operations, as the company's other ratings remain unchanged.
The announcement primarily concerns a rating withdrawal and reaffirmation of existing ratings, indicating a neutral outlook.
* S&P Global Ratings has withdrawn its 'BBB' long-term issue rating on the US$600 million senior unsecured notes due 2026 issued by ONGC Videsh Vankorneft Pte. Ltd. at the issuer's request. * The 'BBB' issuer credit ratings on ONGC and the 'BBB' long-term issue credit rating on the US$300 million senior unsecured notes due 2029 issued by ONGC remain unchanged. * CARE Ratings Limited reaffirmed the ratings of commercial paper up to ₹10,000 crore outstanding at any point of time as CARE A1+. * India Ratings and Research Private Limited reaffirmed the ratings of commercial paper up to ₹10,000 crore outstanding at any point of time as IND A1+. * ICRA Limited reaffirmed the ratings of Non-Convertible Debentures for ₹9,860 crore as [ICRA] AAA with a stable outlook. * India Ratings and Research Private Limited reaffirmed the ratings of Non-Convertible Debentures for ₹1,000 crore as IND AAA with a stable outlook. * CARE Ratings Limited reaffirmed the ratings of Non-Convertible Debentures for ₹7,500 crore as CARE AAA with a stable outlook.
What to do with a filing like this
Oil & Natural Gas Corporation Limited filed this with the NSE as a statutory disclosure, categorised under credit ratings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Oil & Natural Gas Corporation Limited. Read the original for the full detail.