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Fitch Upgrades ONGC’s Standalone Credit Profile to 'bbb+'

By IndianMandarins- 1 hour ago
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New Delhi (16.07.2026): ONGC announced that Fitch Ratings affirmed its Long-Term Foreign Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, while upgrading the company's Standalone Credit Profile (SCP) to 'bbb+'.
The upgrade in ONGC's Standalone Credit Profile reflects the company's strong standalone financial position and operational strength, while the reaffirmed 'BBB-' Stable rating highlights continued confidence in ONGC's creditworthiness in the international debt market.
Apart from Fitch, ONGC continues to maintain strong credit ratings across major agencies:
  • Moody's: Baa3 (Stable)
  • S&P Global Ratings: BBB (Stable)
  • ICRA: AAA (Stable) for Non-Convertible Debentures (NCDs)
  • CARE Ratings: AAA (Stable) for NCDs and A1+ for Commercial Paper
  • India Ratings: AAA (Stable) for NCDs and A1+ for Commercial Paper
The company stated that the revised rating has been communicated to the stock exchanges as part of its regulatory disclosure requirements.

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