{"id":424207,"date":"2021-07-05T08:48:34","date_gmt":"2021-07-05T03:18:34","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=424207"},"modified":"2021-07-05T09:28:04","modified_gmt":"2021-07-05T03:58:04","slug":"ongcs-rating-downgraded-in-line-with-indias-sovereign-rating","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongcs-rating-downgraded-in-line-with-indias-sovereign-rating\/","title":{"rendered":"ONGC&#8217;s rating downgraded in line with India&#8217;s sovereign rating"},"content":{"rendered":"<p>State-run Oil and Natural Gas Corporation Ltd (ONGC) and its subsidiary ONGC Videsh have witnessed a ratings downgrade with a negative outlook, courtesy a similar Indian sovereign rating.<\/p>\n<p>Fitch Ratings has assigned &#8216;BBB-&#8216; rating on ONGC&#8217;s Long-Term Foreign-Currency Issuer Default Rating (IDR) and US dollar senior unsecured notes and on the foreign-currency guaranteed notes issued by ONGC Videsh, ONGC Videsh Vankorneft Pte Ltd, along with the medium-term note programme co-issued by the three entities. <\/p>\n<p>&#8220;ONGC&#8217;s ratings are constrained by the ratings of the state of India (BBB-\/Negative), its majority owner, according to Fitch&#8217;s Government-Related Entities Rating Criteria, and the Negative Outlook reflects that of the Indian sovereign,&#8221; Fitch said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-run Oil and Natural Gas Corporation Ltd (ONGC) and its subsidiary ONGC Videsh have witnessed a ratings downgrade with a negative outlook, courtesy a similar Indian sovereign rating. Fitch Ratings has assigned &#8216;BBB-&#8216; rating on ONGC&#8217;s Long-Term Foreign-Currency Issuer Default Rating (IDR) and US dollar senior unsecured notes and on the foreign-currency guaranteed notes issued by ONGC Videsh, ONGC Videsh Vankorneft Pte Ltd, along with the medium-term note programme co-issued by the three entities. &#8220;ONGC&#8217;s ratings are constrained by the ratings of the state of India (BBB-\/Negative), its majority owner, according to Fitch&#8217;s Government-Related Entities Rating Criteria, and the Negative [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-424207","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/424207","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=424207"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/424207\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=424207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=424207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=424207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}