• Fixed deposit programme Rating : FAAA (Reaffirmed)
• Short term debt programme - Rs. 50 crore   Rating : P1+ (Reaffirmed)

The ‘FAAA’ (pronounced ‘F triple A’) rating assigned to the Fixed Deposit Programme and the ‘P1+’ (pronounced ‘P one plus’) rating assigned to the Rs. 5 billion short term debt programme of Hindustan Petroleum Corporation Limited (HPCL) have been reaffirmed.

The ratings reflect HPCL’s strength as an integrated oil company in the downstream sector with a mix of depreciated & new refinery assets, established distribution network, favourable operating performance and strong financial position.

HPCL is one of the three integrated downstream oil companies in the country involved in both refining and marketing operations. HPCL has two refineries at Mumbai & Vizag with 5.5 mtpa & 7.5 mtpa capacities respectively. HPCL has a 26% equity holding in MRPL which owns 9 mtpa refinery capacity at Mangalore. HPCL has a 20% share of Indian petroleum market and its marketing & distribution infrastructure is spread all over the country. HPCL’s product pipeline infrastructure comprises Mumbai- Pune pipeline and the recently commissioned Vizag-Vijayawada pipeline.