Credit rating agency, ICRA has reaffirmed a rating of 'A1+' to the revised short term debt programme of Rs 7500 crore (increased from Rs 6000 crore) of Reliance Capital (RCL). RCL’s credit strengths are partially offset by its moderate track record in commercial lending operations, moderate profitability indicators, elevated albeit stable levels of asset quality and high investment in Reliance group companies.
Reliance Capital is a systemically important non-deposit taking NBFC. The company is part of the Reliance group led by Anil Dhirubhai Ambani. It currently operates as the holding company for the group’s entities in the financial services sector.
