Future Retail receives revision in rating for USD Denominated Notes

From S&P Global

Future Retail announced that S&P Global Inc has revised the credit ratings for the USD Denominated Notes (listed on SGX) from 'CCC-(prelim)/ watch Neg' to 'CCC- with developing outlook'. The agency remarked that the Reliance Group's acquisition of Future Retail's assets through Scheme of Arrangement and matters connected therewith is positive for Future Group and Future Retail's outstanding USD denominated Notes.

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