The reevaluation of the decision to sell a 20 per cent stake in Reliance Industries Ltd’s 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 reevaluate the transfer of its oil-to-chemical (O2C) business – comprising its refining, marketing and petrochemical operations – to a wholly-owned subsidiary.
The proposed business reorganisation was intended to enable RIL to sell a stake in its O2C segment to strategic investors, including Saudi Arabian Oil Company (Aramco).
