Ir AAA rating for MRPL

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Mangalore, Apr 4 (UNI) Public sector Mangalore Refinery and Petrochemicals Ltd (MRPL) has been accorded 'Ir AAA' rating by credit rating agency ICRA.

The mini ratna company of the ONGC group, carrying the lowest risk and 'AI' rating, indicates highest credit quality.

According to a company press release, the rating would reflect the majority ownership of ONGC (rated LAAA with a stable outlook by ICRA) and the company's strong operational and financial performance over the last few years.

This rating was also supported by the favourable outlook on the international rating margins in the medium term and also high financial flexibility enjoyed by MRPL, the release added.

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