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Friday, Mar 18, 2005

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Moody's may upgrade RIL rating

Our Bureau

Mumbai , March 17

MOODY'S Investors Service has placed on review for possible upgrade the Ba2 ratings of Reliance Industries Ltd (RIL).

The international rating agency said that the rating action has been prompted by RIL's improving operational fundamentals, backed by its low-cost positions, and strong contributions from petrochemicals and refining.

The company enjoys ongoing benefits from the robust demand for its petrochemical products, given economic growth, low consumption/capita in India and the favourable trend for the industry over the next 12-18 months, it added.

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