RELIANCE COMMUNICATIONS LTD. - Credit Rating

Reliance Communications Ltd has informed BSE that Moodys Investors Service, Inc. (Moody), International rating agency, has revised Companys corporate family rating and Senior Secured Notes rating from B1 to B2 with negative outlook.<BR><BR>Moody has stated that EBITDA from the Companys Indian operations - which contribute around 85% of EBITDA, will remain under pressure over next 6-12 months in light of intensifying competition in Indias mobile sector and the governments demonetization in early November 2016.