Oil & Natural Gas Corporation Limited — Credit Ratings, 14-08-2025: Credit Rating- Revision

S&P Global Ratings has upgraded Oil and Natural Gas Corporation (ONGC)'s long-term issuer credit rating and senior unsecured notes to 'BBB' from 'BBB-', maintaining a Stable outlook. This positive action directly follows S&P's concurrent upgrade of India's sovereign credit rating to 'BBB'. ONGC's rating often aligns with the sovereign's due to its status as a government-related entity, meaning the national economic strength directly bolsters its creditworthiness. This upgrade, underpinned by ONGC's robust standalone financial health, is a significant positive. It could potentially lead to lower borrowing costs for the company, boost investor confidence, and offer greater strategic room for future capital expenditures.