Fitch Ratings has assigned India-based Oil India (OIL; BBB-/stable) USD 1 billion senior unsecured notes a final rating of 'BBB-'. The notes comprise two tranches: USD 500 million 3.875% notes due April 2019 and USD 500 millio 5.375% notes due April 2024.

The notes are rated at the same level as OIL's Issuer Default Rating (IDR) of 'BBB-' as they will constitute direct, unconditional, unsubordinated and unsecured obligations of the company.

The assignment of the final rating follows the completion of the bond issuance and receipt of documents conforming materially to the information previously received.

Shares of the company gained Rs 2.7, or 0.55%, to settle at Rs 494.25. The total volume of shares traded was 54,655 at the BSE (Wednesday).