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S&P Upgrades Reliance Industries Ltd On Strategic Clarity, Strong Competitive Position-Business Standard

Wednesday, 29 May 2013 08:14am EDT 

Business Standard reported that Standard & Poor's Ratings Services upgraded Reliance Industries Ltd to 'BBB+' from 'BBB'. The rating agency, however, maintained a negative outlook. In a press statement, S&P said that the negative outlook on Reliance reflects the outlook on the sovereign credit rating on India and upgraded Reliance because the Company's strategy to grow organically will strengthen its competitive position and support its profitability.