Reliance Capital Redeems Commercial Paper Worth Rs 875 Crore

The Anil Ambani-led Reliance Capital on Friday said it has redeemed commercial paper (CP) worth Rs 875 crore, while the outstanding on this account is to the tune of Rs 75 crore.

Reliance Capital said in a stock exchange filing that "the Company has redeemed CPs of Rs 875 crore on the respective due dates in the past two months, and the outstanding CP is now only Rs 75 crore, which will also duly be redeemed on its maturity date that is July 24, 2019."

The company also said that credit rating agency ICRA has revised the ratings on its short-term debt programme of Rs 950 crore to A4 on April 26, 2019.

The ICRA rating will thereupon stand terminated, it added.