...SINGAPORE (Standard & Poor's) Jan. 21, 2015--Standard & Poor's Ratings Services today assigned its '###+' long-term issue rating to the proposed U.S.-dollar-denominated senior unsecured notes by Reliance Industries Ltd. (###+/Stable/--). The notes will rank equally with all the company's other present and future unsecured and unsubordinated obligations. The rating is subject to our review of the final issuance documentation. Reliance intends to use the proceeds to fund its ongoing capital expenditure mainly in the refining and petrochemical sector in India. We expect the current investment in large refining and petrochemical sector projects will help Reliance to improve its profitability from fiscal 2017 (ended March 31, 2017) because we anticipate that the company will complete most of these projects by March 2016. Marginally weaker refining and petrochemical margins despite a steep fall in crude oil prices resulted in subdued profitability in the quarter ended Dec. 31, 2014. A further...
