Reliance Industries Ltd.'s Proposed U.S. Dollar Senior Unsecured Perpetual Notes Assigned 'BBB' Rating Jan 13

  • ID: 2387268
  • January 2013
  • Standard & Poors
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  • Reliance Industries Ltd.
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SINGAPORE (Standard & Poor's) Jan. 28, 2013--Standard & Poor's Ratings Services today assigned its 'BBB' long-term issue rating to the proposed U.S.-dollar-denominated senior unsecured perpetual notes by Reliance Industries Ltd. (BBB/Positive/--). The notes will rank equally with all the company's other present and future unsecured and unsubordinated obligations. The rating is subject to our review of the final issuance documentation. Reliance intends to use the proceeds to fund its ongoing capital expenditure in the exploration and refining sector in India. The rating on Reliance reflects the company's strong competitive position and good business diversity. In addition, the company has low leverage, and strong cash flows and liquidity. The following factors temper these strengths: Reliance's vulnerability to the cyclical nature of...

Companies mentioned in this report are:
- Reliance Industries Ltd.

Action: New Rating

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- Reliance Industries Ltd.

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