<P>Fitch Ratings, a world renowned global rating agency, affirmed its highest grade in favor of Mukesh Ambani run Reliance Industries Limited (RIL) for its long-term national rating, credited to the company’s strapping profile in the oil and gas segments. The agency also allotted moderate ratings on RIL’s long-term Foreign Currency and Local Currency issuer default rating while en route its revision of the latter aspect to a more stable outlook.</P>
<P>In their official statement, Fitch Ratings accorded India’s largest private sector company, i.e., RIL’s long-term foreign currency issuer default rating a ‘BBB-‘, long-term local currency IDR a ‘BBB’ and national long-term rating an ‘AAA(ind)’. AAA is the highest rating accorded to a company with lowest expectation of default list, while a rating of BBB indicates a moderate default risk comparative. Fitch also noted that the remarkable ratings on account of RIL continue to reflect Reliance’s strong business profile in the oil and gas category. Credited to its vertical diversification across the supply chain (upstream, refining and petrochemicals), its efficient refining functions, its overriding position in the Indian petrochemicals quarters and its scale of overall operations have enabled Reliance to reap such stupendous rankings.</P>
<P>It is likely that Reliance’s credit metrics will strengthen down the line, in the light of many fruitful deals it has ventured into, including the RIL-BP endeavor. With access to good financial resources from external bodies, the company is likely to cash in strong liquid assets. And it is this strong liquidity position that has accorded Reliance with top ratings.</P>
<P>Fitch Ratings is a global rating agency that takes into perspective the objective and balanced credit opinions, research and data while allotting ratings to a company. The ratings are greatly sought as information assets by investors, issuers and other market participants. The additional context, perspective and insights the ratings provide, help in better understanding and valuation of a company.</P>