Fitch lifts RIL’s rating a notch above India’s
PTI Fitch Ratings has upgraded Reliance Industries Ltd.’s rating to ‘BBB,’ one notch above India’s sovereign rating, as RIL benefits from cash flow generation across diversified business segments and the continuation of deleveraging. In a statement, Fitch said it had upgraded RIL’s long-term foreign-currency issuer default rating (IDR) to ‘BBB’ from ‘BBB-’, with a negative outlook. At the same time, the agency affirmed RIL’s long-term local-currency IDR at ‘BBB+’ with a stable outlook. The company
88% SMBs yet to avail any benefit under stimulus package: CIA
Special Correspondent As many as 88% of respondents of a survey conducted among self-employed, small and medium businesses (SMB) said they were yet to avail any benefit under the stimulus packages introduced by the Centre while 82% felt the Union and State governments were not taking care of their interests. These are the findings of a survey conducted by the Consortium of Indian Associations (CIA) and its 40 partner-SMB associations. The findings were released on Thursday. The survey covered more than 81,000
NCLT reserves order on Siva Industries’ one-time settlement offer with lenders
Sanjay Vijayakumar The National Company Law Tribunal (NCLT), Chennai on Thursday reserved its order on the one-time settlement offer between promoters of Siva Industries & Holdings Ltd. and lenders.Last week, NCLT had sought an explanation from lenders on the rationale behind accepting the offer. As per the proposal, claims worth about ₹4,200 crore are proposed to be settled through payment of ₹323 crore by Siva Industries and ₹555 crore from third-party guarantors.In 2019, the NCLT had admitted insolvency