Silver Lake’s Rs 5,655.75 crore investment in Jio Platforms further illustrates Reliance Industries Limited’s ability and willingness to monetize its digital services business and reinforces the company’s commitment to achieve a zero net debt position by 31 March 2021, Vikas Halan, Senior Vice President, Corporate Finance, Moody’s Investors Service, said today.

Moody's has a Baa2, stable domestic long term issuer rating for Reliance Industries.

"Investment by Silver Lake is priced at a premium to recently announced investment by Facebook Inc. ($5.8 billion) and establishes another pricing benchmark for Jio Platforms. This is credit positive as it enhances RIL’s already strong financial flexibility," Halan said.

Including the recently announced rights issue ($7 billion) and investments by Silver Lake and Facebook Inc, RIL's recent measures could reduce net debt by about $13.6 billion from the reported net debt of $21.4 billion as on 31 March 2020, Halan said.

Jal Irani of Edelweiss Financial Services said Reliance Industries was going through things in a very structured way, not just in its businesses, but also to strengthen its balance sheet.