OIL AND NATURAL GAS CORPORATION LTD. - Announcement under Regulation 30 (LODR)-Credit Rating

Pursuant to Regulation 30 read with Part A - Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), the extract of the rating report of Moody's Investors Service is placed under, for your reference and records:<BR> <BR> 'Moody''s Investors Service has downgraded Oil and Natural Gas Corporation Ltd.''s (ONGC) local and foreign currency issuer ratings to Baa2 from Baa1.<BR> <BR> At the same time, Moody has also downgraded (1) ONGC''s baseline credit assessment (BCA) to baa2 from baa1; (2) the senior unsecured bonds issued by ONGC to Baa2 from Baa1; (3) the senior unsecured bonds guaranteed by ONGC and issued by ONGC Videsh Limited and ONGC Videsh Vankorneft Pte. Ltd. to Baa2 from Baa1; and (4) the foreign and local senior unsecured ratings on ONGC Videsh Limited and ONGC''s MTN program to (P)Baa2 from (P)Baa1.<BR>