(ADPnews) - Jun 16, 2010 - Indian credit rating agency CRISIL upheld the ratings of AAA with a "stable" outlook and of P1+ on various bank and debt facilities of local petrochemical company Reliance Industries Ltd (BOM:500325), or RIL.
The rating action follows RIL's announcement that it has entered into an agreement to acquire a 95% stake, valued at INR 48 billion (USD 1bn/EUR 841m), in Infotel Broadband Services (P) Ltd by subscribing to a fresh equity issuance by Infotel. RIL is likely to spend around INR 250 billion over the next three to four years on capital expenditure (capex) in connection with the Infotel acquisition. The capex, which includes BWA spectrum …
No comments:
Post a Comment