Pakistan’s largest exploration and production entity, Oil and Gas Development Company Limited (OGDC) has been assigned a long-term entity rating of 'AAA' (Triple AAA) and short-term rating of 'A1+' (A One Plus) by Pakistan Credit Rating Agency (PACRA)
These are the highest ratings on respective entity
ratings scale and denote the lowest expectation of credit risk emanating from
an exceptionally strong capacity for timely payment of financial commitments.
The ratings reflect OGDC's strategic importance to the
government of Pakistan for being the largest upstream oil and gas company
having predominant share of recoverable hydrocarbons reserves and exploration
acreage.
Moreover, the company is the leading contributor in the
country's major hydrocarbon mix production and its oil and gas production
continues to help the country in saving huge foreign exchange.
