Oil & Natural Gas Corporation Limited has informed the Exchange about Credit Rating
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ICRA has reaffirmed ONGC's long-term rating of [ICRA] AAA (Stable) on its balance Non-Convertible Debenture (NCD) programme of Rs 8,500 crore. ICRA withdrew the rating on a Rs 500 crore NCD because no amount is now outstanding (the bond matured on April 11, 2025 and was fully redeemed), and withdrew the rating on a Rs 860 crore unplaced NCD programme at the company's request. ICRA also withdrew ratings on Rs 25,000 crore of bank facilities (cash credit, short-term fund-based/non-fund-based, and unallocated limits) at ONGC's request. Other agencies — Moody's (Baa3), S&P (BBB), Fitch (BBB-), all Stable — have also affirmed ONGC's international bond ratings.
This is a neutral-to-slightly-positive housekeeping update — the highest AAA rating has been reaffirmed and existing NCDs remain fully rated. The withdrawn ratings reflect natural NCD maturity and unused/unplaced facilities, not any credit deterioration, so there is no negative implication for shareholders or bondholders.