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Ind Ra affirms rating on Reliance Infrastructure's non-convertible debentures at 'IND D'; Stock gains 2%

Timely debt servicing for at least three consecutive months could result in an upgrade.

December 01, 2021 11:45 IST | India Infoline News Service
India Ratings and Research (Ind-Ra) has affirmed Reliance Infrastructure Limited’s (R-Infra) Long-Term Issuer Rating and Non-convertible debentures at ‘IND D’.

The ratings reflect R-Infra’s ongoing delays in servicing the rated debt instruments, according to the company’s disclosure on the National Stock Exchange Ltd and the BSE Ltd. The outstanding order book as on March 31, 2021 was INR148.8 billion.

Timely debt servicing for at least three consecutive months could result in an upgrade.

R-Infra is the flagship company of the Reliance Group, led by Anil Dhirubhai Ambani, with focus on the energy and infrastructure businesses.

At around 11:45 AM, Reliance Infrastructure was trading at Rs85.80 apiece up by Rs1.65 or 1.96% on the BSE.

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