Indian Oil Corporation Limited — Credit Ratings, 14-10-2025: Credit Rating- New

Indian Oil (IOC) has received a 'BBB' long-term foreign & local currency issuer rating with a 'Stable' outlook from S&P Global Ratings. Separately, various debt instruments, including NCDs and long-term bank facilities, are rated 'AAA' by agencies like CRISIL, ICRA, India Ratings, and CARE, all with a 'Stable' outlook. Commercial Papers hold 'A1+' ratings.