Reliance Industries Ltd.

Credit rating agency, Fitch Ratings has affirmed Reliance Industries’ (RIL) long-term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-’. The rating agency has also affirmed the company’s Long-Term Local-Currency IDR at ‘BBB’. The outlook on the ratings is stable.

RIL’s ratings are supported by its strong business profile-a large-scale refinery with capacity of around 1.4 million barrels per day, and robust asset quality, which enables it to consistently deliver gross refining margins (GRM) above regional benchmarks.