Reliance Industries , one of India's largest conglomerates, has received a significant boost to its international credit profile. S&P Global Ratings has upgraded the credit rating for Reliance Industries' Senior Unsecured USD Denominated Fixed Rate Notes from BBB with a Stable outlook to A- with a Stable outlook. This upgrade reflects an improvement in the company's creditworthiness for its USD-denominated borrowings.

Key Highlights

• Rating Upgrade: From BBB (Stable) to A- (Stable)
• Affected Instruments: Senior Unsecured USD Denominated Fixed Rate Notes
• Significance: Improved creditworthiness for USD-denominated borrowings

Impact on Reliance Industries

This rating upgrade is a positive development for Reliance Industries, potentially impacting its international debt securities. An A- rating indicates a strong capacity to meet financial commitments, which could lead to:

1. Lower borrowing costs for future USD-denominated debt issuances
2. Enhanced investor confidence in Reliance Industries' financial stability
3. Improved access to international capital markets

Financial Context

While the rating upgrade is not directly tied to specific financial metrics, it's worth noting some key figures from Reliance Industries' recent consolidated balance sheet:

These figures demonstrate Reliance Industries' robust financial position, which likely contributed to the positive rating action by S&P Global Ratings.

Conclusion

The upgrade in credit rating for Reliance Industries' USD Notes to A- from BBB by S&P Global Ratings marks a significant milestone in the company's financial standing on the global stage. This enhancement in credit profile could potentially open up new avenues for Reliance Industries in international financial markets, supporting its future growth and expansion plans.

Reliance Industries Limited (RIL) has made a significant move in the global cricket arena, acquiring a 49% stake in The Hundred's Oval Invincibles franchise. This strategic partnership, announced on December 3, 2025, sees RIL joining forces with Surrey County Cricket Club, which retains a 51% stake in the franchise.

Key Highlights of the Partnership

• Ownership Structure: Reliance Strategic Business Ventures Limited (a wholly-owned subsidiary of RIL) now owns 49% of the franchise, with Surrey County Cricket Club holding the majority 51%.
• Rebranding: From 2026, both the men's and women's teams will be known as MI London.
• Expansion of Mumbai Indians: This deal expands the Mumbai Indians' global presence to seven teams across five countries.

Oval Invincibles: A Powerhouse in The Hundred

The Oval Invincibles have established themselves as the most successful team in The Hundred's history:

Mumbai Indians' Growing Global Footprint

This acquisition further solidifies Mumbai Indians' position as a global cricketing powerhouse:

Strategic Implications

1. Global Expansion: This move aligns with Mumbai Indians' vision to grow cricket globally and engage fans across continents.
2. Talent Development: The partnership aims to nurture emerging talent, leveraging both organizations' expertise.
3. Brand Enhancement: The rebranding to MI London is expected to boost the franchise's commercial value and global appeal.

Statements from Key Figures

• Nita M. Ambani (RIL representative): Emphasized the significance of London in cricket's heritage and expressed honor in being part of it.
• Akash Ambani: Highlighted the alignment of The Invincibles' winning record with MI's ethos of passion, resilience, and teamwork.
• Oli Slipper (Surrey Chair): Expressed confidence in Reliance's cricket and business expertise, and the potential for growing the fanbase globally.

This partnership marks a significant step in the globalization of T20 cricket franchises, potentially influencing the future landscape of international cricket leagues and talent development.

Note: All specific dates mentioned are based on the information provided in the news release dated December 3, 2025.