!

!
Me
edia!Rele
ease!
CRISIIL!Upgrad
des!GP!Pe
etroleums!Long"TTerm!Ratiings!To!A
A"/Stable
e!
Sh
hort"Term
m!Credit!R
Rating!up
pgraded!tto!A2+!
Mumbai,! July! 31,! 2015:! The!
T
long! te
erm! credit! rating! of! GP
G Petroleums Limitteds (NSE
E & BSE:
GULFPETRO),, an Indian
n subsidia
ary of Gulff Petrochem
m Group, debt instrruments has
h been
upg
graded to A-/Stablle by CRIS
SIL (A Standard & Poors
P
Com
mpany) fro
om BBB+ earlier.
The
e company
ys short-tterm rating
g meanwh
hile, has be
een raised to A2+ from
f
A2.
Ratted on the
e total ban
nk loan fac
cilities of INR 1.95 billion,
b
CR
RISIL has assigned
a
a Stable
outtlook for the company, in the long as we
ell as the short-term
s
m. The cred
dit rating upgrade
hig
ghlights th
he underlying financial strength of the
t
comp
pany in te
erms of its debt
oblligation. The
T
review
w and cons
sequent upgrade
u
prrocess is independe
ent, unbiased and
objjective.
GP Petroleum
ms Ltd is committed
c
d to the tiimely paym
ment of itts financia
al obligatio
ons. The
cre
edit rating upgrade by
b CRISIL underscor
u
es the com
mpanys sttrong corp
porate gov
vernance
and
d due dilig
gence towa
ards its len
nders.
The
e upgrade
e also ope
ens future avenues for GP Pe
etroleums Ltd to access and/
/or raise
cap
pital at a relatively
r
lower costt, thus stre
engthening as well as broade
ening our investor
bas
se.

Abo
out GP Pettroleums Ltd
L
GP
P Petroleum
ms ltd prev
viously known as Sa
ah Petroleu
ums Limite
ed, is an IS
SO 9001:20
008 &
EMS 14001:2
2004 certiffied compa
any, specia
alizes in designing,
d
manufactu
uring and
ma
arketing, in
ndustrial & automotiive lubrica
ants, proce
ess oils, tra
ansformerr oils, grea
ases and
oth
her specialties underr the brand
d name IPO
OL in India
a and inte
ernationally
y for more
e than
three decade
es.

Abo
out Gulf Petrochem Group
Gulf Petroche
em Group is a leadin
ng player in the oil in
ndustry, specializing
g in Oil Tra
ading
and
d Bunkerin
ng, Oil Refining, Grease Manuffacturing, Oil Storage Termina
als, Bitume
en
Ma
anufacturin
ng, and Shipping and
d Logistics
s. Headqua
artered in United Ara
ab Emirate
es, and
hav
ving a pres
sence in So
outh Asia, the Far Ea
ast Asia, Africa
A
and Europe, Gulf Petroch
hem has
em
merged as one
o of the well-esta
ablished manufacture
ers and tra
aders of petroleum
pro
oducts in major
m
parts of the world.
w

For further info

ormation ple
ease contact:
Ste
ephanie Alviso

Lennon
n DSouza / Neha
N
Saha

Gu
ulf Petrochem
m Group

Adfacto
ors PR

Tel: +97165264944 Ext. 23

38

Tel: 91!022!6757 4000

4

steephanie.alvisso@gulfpetrrochem.com
m

lennon
n.dsouza@ad
dfactorspr.co
om
neha.saaha@adfacttorspr.com
energyy@adfactorspr.com