Archive · 5 Dec 2025
S&P Upgrades Reliance Industries to 'A-'
S&P, a big rating agency, gave Reliance Industries a better grade, called 'A-'.
This means they think the company is doing better financially.
They expect that in a few years, most of the company's money will come from digital services and retail stores, not just oil and chemicals.
The company's stock price went down a tiny bit after this news.
S&P also said that Reliance Industries will keep making more money from its consumer businesses, which will help it grow even more.
They think the company will keep its strong position in the market and make enough money to cover its big investments.
S&P upgraded Reliance Industries' long-term issuer credit rating to 'A-' from 'BBB+' due to improving cash flow stability.
Digital services and retail businesses are expected to contribute 60% of operating cash flow by fiscal 2026.
Oil-to-chemicals (O2C) and oil and gas segments are expected to contribute the remaining 40% of operating cash flow by fiscal 2026.
S&P maintained a Stable Outlook, expecting Reliance Industries to maintain its leading market position and cover capital spending over the next 12-24 months.
Reliance Industries' share price ended at ₹1,538.40, down by ₹0.60 or 0.039% on the BSE.
- Who
- S&P Global Ratings
- What
- Upgraded Reliance Industries' credit rating to 'A-' from 'BBB+'
- When
- December 5, 2025
- Where
- Global market
- Why
- Due to improving cash flow stability driven by expanding consumer-focused businesses
- Company
- Reliance Industries Ltd
- Rating Agency
- S&P Global Ratings
- New Rating
- A-
- Previous Rating
- BBB+
- Outlook
- Stable
- Projected Digital/Retail Cash Flow Contribution (2026)
- 60%
- Projected O2C/Oil & Gas Cash Flow Contribution (2026)
- 40%
- Expected Debt to EBITDA Ratio (FY2027)
- 1.5x-1.6x
- Expected Capex (FY2027)
- ₹1.4 trillion
- Share Price (BSE)
- ₹1,538.40
- Share Price Change
- Down ₹0.60 (0.039%)
