JCR-VIS reaffirms entity ratings of OGDC at AAA/A-1+

KARACHI: JCR-VIS Credit Rating Company Limited has reaffirmed the medium to long-term entity rating of Oil and Gas Development Company Limited (OGDCL) at tipple A and short-term entity rating at A One Plus.

The outlook on the assigned rating is stable. The previous rating action was announced on February 22, 2018, said press release here on Monday.

The assigned ratings of OGDCL incorporate its ownership structure with majority shares held by the Government of Pakistan. The low business risk of the Company emanates from its robust margins providing considerable cushion against international oil price fluctuations.