Credit rating agency, India Ratings & Research has affirmed Reliance Industries’ (RIL) long-term issuer rating at ‘AAA’ with stable outlook. The company has received the said rating affirmation on the back of its strong business profile in the oil and gas business with vertical diversification across the supply chain (upstream, refining and petrochemicals), efficient refining operations and its dominant position in the domestic petrochemicals sector.
RIL is an oil refining, petrochemicals and upstream (mainly natural gas at present) company. It has two highly complex refineries with combined capacity of 1.24 million barrels per day and domestic proved reserves of 660 million barrel of oil equivalent as at end-March 2013.
