{"id":451486,"date":"2021-11-24T08:44:20","date_gmt":"2021-11-24T03:14:20","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=451486"},"modified":"2021-11-24T10:48:35","modified_gmt":"2021-11-24T05:18:35","slug":"reliance-credit-quality-not-impacted-by-aramco-decision-moodys","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/reliance-credit-quality-not-impacted-by-aramco-decision-moodys\/","title":{"rendered":"Reliance credit quality not impacted by Aramco decision: Moody&#8217;s"},"content":{"rendered":"<p>The reevaluation of the decision to sell a 20 per cent stake in Reliance Industries Ltd&#8217;s oil-to-chemical business to Saudi Aramco will not impact the firm&#8217;s credit quality, Moody&#8217;s Investors Service said Tuesday.<\/p>\n<p>On November 19, the conglomerate announced that it will reevaluate the transfer of its oil-to-chemical (O2C) business &#8211; comprising its refining, marketing and petrochemical operations &#8211; to a wholly-owned subsidiary. <\/p>\n<p>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). <\/p>\n<p>&#8220;The sale would have strengthened the company&#8217;s balance sheet and liquidity as it continues to incur capital spending for its digital services, and new energy and retail businesses,&#8221; Moody&#8217;s said in a note.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The reevaluation of the decision to sell a 20 per cent stake in Reliance Industries Ltd&#8217;s oil-to-chemical business to Saudi Aramco will not impact the firm&#8217;s credit quality, Moody&#8217;s Investors Service said Tuesday. On November 19, the conglomerate announced that it will reevaluate the transfer of its oil-to-chemical (O2C) business &#8211; comprising its refining, marketing and petrochemical operations &#8211; 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). &#8220;The sale would have strengthened the company&#8217;s balance sheet and liquidity [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-451486","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/451486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=451486"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/451486\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=451486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=451486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=451486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}