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Fitch affirms stable outlook rating to RIL
November 16, 2015
Fitch Ratings has affirmed Reliance Industries' long term
foreign currency and domestic currency issuer default rating at 'BBB-' and
'BBB', respectively with stable outlook.
"Fitch Ratings has affirmed India-based Reliance Industries
Ltd's Long-Term Foreign-Currency Issuer Default Rating at 'BBB-', and its
Long-Term Local-Currency IDR at 'BBB'.
The outlook on the ratings is stable," Fitch Ratings
said in a statement.
According to the statement, RIL's ratings are supported by its
strong business profile-a large-scale refinery with capacity of around 1.4
million barrels per day, and robust asset quality, which enables it to consistently deliver
gross refining margins above regional benchmarks.
The company has a somewhat integrated business, with downstream
petrochemical operations as well as upstream, together with strong operating
cash flows and ample liquidity, it said.
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