Reliance Industries, India s largest company, may transform into a holding company with majority stakes in independent entities, according to CreditSights. The move would create a clearer distinction between divisions, unlock stakeholder value, and allow for diverse funding channels. Reliance Industries has previously expressed its intention to list its retail and telecom businesses over the next five years.
There’s this old saw about ratings companies – amplified by Dr Mahathir Mohamad during the Asian financial crisis after Malaysia’s sovereign ratings were cut under his watch – that their standards are poor, in addition to being moody. Read more at straitstimes.com.