NEW DELHI
Ugg stiefel, Feb. 2 (UPI) -- A top credit rating agency has awarded India's Oil and Natural Gas Corp. the highest credit rating for an entity in India.
"Credit rating agency Moody's Investor Services awarded to ONGC a credit rating higher than that of the government and the highest for an entity in the country
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The rating is Baal for Indicative Foreign Currency debt and A2 for Local Currency Issuer.
According to a news report
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An ONGC official said these ratings would facilitate borrowing in domestic as well as overseas markets to fund the company's growth plans.
The company said its fully owned ONGC Videsh Limited
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The Indian oil corporation has increased domestic investment.
"These ratings will help in ensuring on time availability of the required funds
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ONGC has appointed Citigroup as its rating advisor. It has also approached CRISIL and ICRA for domestic credit ratings.
Moody's has assigned a Baa3 rating to Reliance Industries Limited
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