(ADPnews) - Oct 22, 2009 - Indian rating agency CRISIL has affirmed its top-notch ratings on various securities of Indian petrochemical group Reliance Industries Ltd (BOM:500325) citing the acquisition of its refinery unit Reliance Petroleum (BOM:532743).
In particular, the agency maintained its AAA rating on the company's long-term debts of a combined INR 249 billion (USD 5.3bn/EUR 3.6bn) and its P1+ rating on Reliance Industries' short-term obligations in total amount of INR 120 billion.
Consequent to the merger, which has been approved by the High Courts of Gujarat and Bombay, Reliance Petroleum's rated debt amounting to INR 176.5 billion has been …
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