Fitch affirms Reliance Energy

Fitch Ratings said it affirmed Reliance Energy Ltd.'s national long-term issuer rating and the rating of its Rs.15 billion non-convertible debenture program at AAA(ind), along with the F1+(ind) rating on its Rs.10 billion short-term debt program.

The outlook is stable.

The affirmation reflects the company's robust business position, strong liquidity and comfortable credit metrics on a standalone basis, considering the limited amount of direct exposure to greenfield projects, the agency said.

The ratings are dependent on the company's ability to tap equity markets to fund the equity requirements of its large capital expenditure plans in power generation and infrastructure sectors, Fitch said.

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