RELIANCE COMMUNICATIONS LTD. - Credit Rating

Reliance Communications Ltd has informed BSE that Fitch Ratings ("Fitch") has assigned a Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) of 'BB-' (Stable Outlook) to the Company. Moodys Investors Services ("Moodys"), has assigned a corporate family rating (CFR) of Ba3 (Stable Outlook) to the Company. This is the first time that Fitch and Moody's have assigned ratings to the Company.