Moody's: Reliance credit quality won't be hit by Aramco decision
Financial Express Mumbai|November 24, 2021
DEAL RE-EVALUATION

THE RE-EVALUATION OF the decision to sell a 20% stake in Reliance Industries Ltd's (RIL) oil-to-chemical business to Saudi Aramco will not impact the firm's credit quality, Moody's Investors Service said Tuesday.

On November 19, the conglomerate announced that it will re-evaluate the transfer of its oil-to-chemical (O2C) business - comprising its refining, marketing, and petrochemical operations – to a wholly-owned subsidiary.

The proposed business reorganization was intended to enable RIL to sell a stake in its O2C segment to strategic investors, including Saudi Arabian Oil Company (Aramco).

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