Reliance Capital has informed that the Brickwork Ratings has revised rating to AA for long-term debt program, market linked debentures and subordinated debt of the Company, primarily due to delay in monetising the non-core investments. The Company remains confident to be able to monetise some of these assets over the next two quarters and bring down the debt significantly.The rating continues to factor RCaps experienced management, well diversified and growing business profile of companies (subsidiaries / associates) in financial services segment viz. Reliance Nippon Life Asset Management (RCap holds 42.88%), Reliance Commercial Finance Limited (RCap holds 100%), Reliance Home Finance Limited (RCap holds 47.91%), Reliance General Insurance Company Limited (RCap holds 100%) and Reliance Nippon Life Insurance Company Limited (RCap holds 51%).
The above information is a part of company’s filings submitted to BSE.