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Mangalore, April 4

Credit rating agency ICRA has reaffirmed the issuer rating of ‘Ir AAA’ assigned to Mangalore Refinery and Petrochemicals Ltd (MRPL), certifying that MRPL carries lowest credit risk. An MRPL release said here on Friday that ICRA has also reaffirmed the ‘A1+’ rating, indicating highest credit quality to MRPL. The ratings reflect the majority ownership of ONGC (rated LAAA with a stable outlook, by ICRA), and the company’s strong operational and f inancial performance over the last few years, the release added. —

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