Reliance Capital has informed that the Brickwork Ratings has revised rating to A+ (credit watch with negative implications) for long-term debt program, market linked debentures and subordinated debt of the Company. Brickwork has stated this action is primarily due to extension of timeline for progress of planned disinvestments in various companies. The Company considers the above rating action completely unjustified and inappropriate. There has not been any adverse change in the Company's operational parameters from the time of the last rating action, just 8 weeks ago.
The above information is a part of company’s filings submitted to BSE.
