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RIL earns S&P, fitch approval with strong earnings, controlled leverage
The Business Guardian
|April 27, 2024
Global rating agencies S&P and Fitch have bestowed their confidence upon Reliance Industries Ltd following its strong earnings for the fiscal year ending March 31, 2024.
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Both agencies, in individual assessments, noted the company’s growth ambitions being supported and its leverage being effectively managed. S&P Global Ratings and Fitch Ratings highlighted the increase in EBITDA (commonly referred to as pre-tax profit) for the current and upcoming fiscal years, attributing it to growing revenue and previous investments.
“Reliance Industries Ltd’s (RIL) strong earnings will keep leverage in check as the company continues to pursue growth ambitions. We expect the company’s debtto-EBITDA ratio to remain commensurate with the rating (BBB+/Stable/--),” S&P said in a note.
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