Fitch affirms Petronet

Fitch Ratings said it affirmed Petronet LNG Ltd.'s national long-term rating at AA(ind) and its national short-term rating at F1+(ind).

The outlook is stable.

The ratings derive strength from its "assured-quantity supply" contract with Qatar's RasGas and its back-to-back sales agreements with key customers, Indian Oil Corp., Bharat Petroleum Corp. and Gas Authority of India Ltd., for its existing operations, Fitch said.

Key ratings concerns include the risk of time and cost overruns in setting up a greenfield terminal in Kochi, Kerala, the agency said.

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