Reliance’s proposed switch reorganisation credit neutral: Fitch
NEW DELHI: The proposed reorganisation notion by to switch its refining, marketing and petrochemical (oil-to-chemicals) corporations to a unconditionally-owned subsidiary is a step against facilitating participation by strategic investors within the unit, Fitch Ratings said on Tuesday.
The reorganisation of the switch in Reliance O2C Dinky (O2C) "will maintain a neutral influence on RIL's credit metrics and ranking," it said in a allege.
The switch will likely be on a "shuffle sale foundation", area to reaching the requisite approvals.
The honor for the switch will likely be within the fabricate of long-time period interest-bearing debt of $25 billion to be issued by O2C to RIL; RIL's exterior debt is proposed to dwell with RIL most effective.
"As RIL strikes its refining, petrochemical...