Moody's Ratings has upgraded Reliance Industries Limited's (RIL) long-term local currency issuer rating and foreign currency senior unsecured ratings to Baa1 from Baa2 following an update to its methodology on how sovereign credit quality influences corporate ratings.
With the latest upgrade, Reliance Industries is now rated two notches above India's sovereign rating by both Moody's and S&P Global Ratings, reflecting the company's strong credit profile and diversified business operations.
