Reliance Capital gets revision in credit ratings from CARE

Reliance Capital announced that CARE Ratings (CARE) has reaffirmed the rating at BBB and revised rating outlook to credit watch with negative implications for long-term debt program, market linked debentures and subordinated debt of the Company. CARE has stated this action is primarily due to likely utilization of part proceeds of divestments to meet the debt guaranteed by RCL.

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