ICRA reaffirms A1+ rating to Reliance comm's Rs 10 bln debt prog

New Delhi, Nov 8 (UNI) Credit-rating agency ICRA today reaffirmed A1+ rating assigned to the Rs 10 billion Short Term Debt Programme of Anil Dhirubhai Ambani Group's Reliance Communications Ltd (RCL).

The rating, which indicates highest credit quality in the short term, was initially assigned to the debt instrument of Reliance Infocomm Ltd, which has been merged into RCL.

The A1+ rating indicates the reaffirmation factors in RCL's established position as a leading and integrated telephony service provider with a presence in wireless, local loop, and domestic and international long distance, the agency said.

RCL's competitive cost structure, operational strengths derived from its pan India network, and its large and fast growing subscriber base also factored in the rating.

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