Global rating agency, Fitch Ratings has affirmed Bharat Petroleum Corporation’s (BPCL) long-term issuer default rating at ‘BBB-’. The outlook is stable. The rating agency has also affirmed ‘BBB-’ ratings on the company’s $500 million and CHF200 million senior unsecured notes.
The prices of around two thirds of the petroleum products (including retail diesel, public distribution kerosene and household LPG) marketed by BPCL are regulated by the government, and sold at prices lower than international market prices.
BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.
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