The rating reaffirmation for the compulsorily convertible debenture (CCD) programme of Rs.… – OPAL: Ratings reaffirmed, 26 Jan 2023

The rating reaffirmation for the compulsorily convertible debenture (CCD) programme of Rs. 7,286 crore considers the unconditional and irrevocable put option on ONGC for buying back the CCDs from the investors, and an undertaking from ONGC for meeting the coupon payment on the instrument. The rating for the Rs. 2,665-crore NCD programme of OPaL is based on LoC from ONGC.Click on Details for more