Moody's Investors Service has assigned a definitive Baa2 senior unsecured rating to the USD 500 million 3.875% notes due 2019 and the USD 500 million 5.375% notes due 2024 issued by Oil India (OIL).

The outlook on the rating is stable.

Shares of the company declined Rs 6.55, or 1.34%, to trade at Rs 482.05. The total volume of shares traded was 9,028 at the BSE (1.27 p.m., Wednesday).