{"id":282803,"date":"2019-07-17T06:56:59","date_gmt":"2019-07-17T06:56:59","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=282803"},"modified":"2019-07-17T06:56:59","modified_gmt":"2019-07-17T06:56:59","slug":"moody-affirms-baa1-rating-for-ongc-with-stable-outlook","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/moody-affirms-baa1-rating-for-ongc-with-stable-outlook\/","title":{"rendered":"Moody affirms Baa1 rating for ONGC with stable outlook"},"content":{"rendered":"<p>Thanks to higher net oil price realisation, which has improved the credit metrics of ONGC, ratings agency Moody\u2019s on Tuesday affirmed its \u2018Baa1\u2019 ratings for the oil explorer with a stable outlook. \u201cMoody\u2019s Investors Service has affirmed Oil and Natural Gas Corporation\u2019s \u2018Baa1\u2019 local and foreign currency issuer ratings, and the \u2018Baa1\u2019 ratings on the senior unsecured bonds guaranteed by ONGC and issued by ONGC Videsh and ONGC Videsh Vankorneft,\u201d said the agency.<\/p>\n<p>The company\u2019s debt metrics, as measured by retained cash flow (RCF) to net debt, has improved in the last 12 months from 40% in FY18 to 51% in FY19. Higher crude oil realisation led to better earnings in FY19 for ONGC. The company\u2019s net profit in FY19 jumped 34% to Rs 26,716 crore. The net realisation improved 24% to $68.19 per barrel in FY19 compared with $55.19 per barrel in FY18.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thanks to higher net oil price realisation, which has improved the credit metrics of ONGC, ratings agency Moody\u2019s on Tuesday affirmed its \u2018Baa1\u2019 ratings for the oil explorer with a stable outlook. \u201cMoody\u2019s Investors Service has affirmed Oil and Natural Gas Corporation\u2019s \u2018Baa1\u2019 local and foreign currency issuer ratings, and the \u2018Baa1\u2019 ratings on the senior unsecured bonds guaranteed by ONGC and issued by ONGC Videsh and ONGC Videsh Vankorneft,\u201d said the agency. The company\u2019s debt metrics, as measured by retained cash flow (RCF) to net debt, has improved in the last 12 months from 40% in FY18 to 51% [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-282803","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/282803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=282803"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/282803\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=282803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=282803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=282803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}