S&P Global affirms RIL’s ‘BBB+’ rating on resilient operational performance

S&P Global has backed its rating of Reliance Industries, citing its resilient performance. Its rating has been affirmed at BBB+ and the issue rating on the senior unsecured debt has also been affirmed. S&P Global’s stable outlook suggests it expects RIL’s cash flows to remain strong and preserve its financial profile, despite elevated investments over the next two years. The ratings agency believes earnings growth in the digital and retail segments will temper the potential softness in the O2C business, which is the mainstay for the company.

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