Credit rating agency, CRISIL has reaffirmed ‘AAA/Negative’ rating of Hindustan Petroleum Corporation’ (HPCL) long term bank facilities. The rating agency has also reaffirmed ‘A1+’ rating to the company’s Short term bank facilities.
The company has received the said ratings reaffirmation on hopes that it will remain strategically important to the Government of India (GoI), and that the company will continue to play a key role in implementing GoI’s socio-economic policies.
HPCL operates two major refineries producing a wide variety of petroleum fuels and specialties, one in Mumbai (west coast) of 6.5 million metric tonnes per annum (MMTPA) capacity and the other in Vishakapatnam, (east coast) with a capacity of 7.5 MMTPA.
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