Fitch affirms Oil India

Fitch Ratings said it affirmed Oil India Ltd.'s long-term foreign-currency issuer default rating, senior unsecured rating and the rating on its outstanding senior unsecured debt at BBB-.

The agency also affirmed subsidiary Oil India International Pte. Ltd.'s long-term foreign-currency issuer default rating and the rating on its dollar senior notes at BBB-.

The outlook is stable.

The agency said Oil India’s rating is based on its standalone credit profile of bbb-, which is equal to the rating of its largest shareholder, the state of India (BBB-/stable), based on Fitch's government-related entities rating criteria.

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