Credit rating agency, ICRA has reaffirmed the long term rating at BBB+ for the Rs 50 billion non-convertible debenture (NCD) programme and Rs 281.16 billion long-term fund based/non-fund based limits (including unallocated limits) of Reliance Communications (RCom).

The outlook on the long term rating has been revised to stable from negative. ICRA has also reaffirmed short term rating of ICRA]A2+ for the Rs. 7,314 crore short-term fund-based/non-fund based limits (including unallocated limits) and Rs 20 billion commercial paper programme of RCom.

ICRA has taken a consolidated view of RCom group (referred to as the Group) including Reliance Telecom (RTL) and Reliance Infratel (RITL).

Shares of the company gained Rs 0.75, or 1.57%, to trade at  Rs 48.45.  The total volume of shares traded  was  846,128 at the BSE (9.46 a.m., Thursday).