Moodys and S&P Global assign rating to RILs proposed bonds

6 Jan 2022 , 10:55 AM

Moodys Investors Service has assigned Baa2? rating to the proposed bonds. The outlook on the rating is stable.

S&P Global Ratings has rated the bonds at ?BBB+? with a Stable outlook.

RIL will use the bond proceeds for refinancing.

RILs Baa2 ratings reflect the companys large scale and dominant market position across its diverse businesses, its managements strong execution track record and our expectation that its credit metrics will remain strongly positioned for its Baa2 rating, despite its planned investments in clean energy and other business segments, says Sweta Patodia, a Moodys Analyst.

RIL is Indias largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail, and digital services.

On a consolidated basis, the company reported 46% increase in net profit to Rs 15,479 crore on 50.7% rise in net sales to Rs 1,67,611 crore in Q2 September 2021 over Q2 September 2020.

The scrip fell 1.79% to currently trade at Rs 2421.80 on the BSE.

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