STOCK PHOTO
JCR-VIS Credit Rating Company Limited has reaffirmed the medium- to long-term entity rating of the Oil and Gas Development Company Limited (OGDCL) for FY14 at ‘AAA’ and short-term entity rating at ‘A-1+’.
Outlook on the assigned rating is ‘stable’. The assigned ratings reflect the systemic role of OGDCL to the national economy as the largest upstream oil and gas company in the country, majority of which is owned by the Pakistan government.
The rating also incorporates the company’s sizeable market share and low financial risk profile.
Published in The Express Tribune, May 27th, 2015.
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