Chennai: Chennai Petroleum Corporation Limited (CPCL) has announced that CRISIL Ratings has updated the company’s bank-wise credit facility details in line with the Reserve Bank of India (RBI) requirements. The company emphasized that the update is purely procedural and does not involve any change in its existing credit ratings, rated facilities, rating limits, outlook, or other rating parameters.
The disclosure was submitted to both the BSE and the National Stock Exchange of India (NSE) under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
According to the company, CRISIL has reaffirmed CPCL’s Long-Term Bank Facilities at “CRISIL AAA/Stable,” reflecting the highest level of creditworthiness with a stable outlook. Meanwhile, the company’s Short-Term Bank Facilities, Letters of Credit (LCs), Bank Guarantees (BGs), and Commercial Paper Programme continue to carry the highest short-term rating of “CRISIL A1+”.
The company clarified that the latest update only revises the bank-wise allocation of credit facilities to comply with the RBI’s reporting framework and should not be interpreted as a change in the company’s financial strength or borrowing profile.
CPCL’s rated banking facilities are spread across several leading financial institutions, including State Bank of India, ICICI Bank, HDFC Bank, Punjab National Bank, Bank of India, Indian Bank, IndusInd Bank, and South Indian Bank.
The filing also confirmed that the company’s ₹7,500 crore Commercial Paper Programme continues to hold the highest short-term rating of A1+ from both CRISIL Ratings and ICRA Limited. The commercial paper programme remains fully interchangeable with packing credit facilities, providing the company with additional financial flexibility.
The reaffirmation of AAA and A1+ ratings highlights the continued confidence of lenders and rating agencies in CPCL’s strong financial profile, healthy liquidity position, and strategic importance in India’s petroleum refining sector. These ratings indicate the company’s excellent capacity to meet its financial obligations and reinforce its reputation as one of India’s financially stable public-sector refiners.
The regulatory disclosure was signed by Company Secretary P. Shankar and submitted to the stock exchanges on June 30, 2026.
Key Highlights
- CRISIL reaffirmed CPCL’s Long-Term Rating at “AAA/Stable.”
- Short-Term Facilities continue to hold the highest “A1+” rating.
- No change in ratings, outlook, rated facilities, or borrowing limits.
- Update made solely to comply with RBI’s bank-wise reporting requirements.
- ₹7,500 crore Commercial Paper Programme retains A1+ ratings from both CRISIL and ICRA.
- Credit facilities are backed by major lenders, including SBI, ICICI Bank, HDFC Bank, PNB, Bank of India, Indian Bank, IndusInd Bank, and South Indian Bank.
- Disclosure filed with BSE and NSE under SEBI Listing Regulations.
