Business Moody's could upgrade Reliance Industries' outlook if it maintains 3 vital metrics Updated : November 15, 2019 12:40 PM IST Given the business expansion and future financial strategies announced by Reliance Industries, Moody’s Investor’s Service has affirmed RIL’s Baa2 rating, with ‘stable’ outlook. Moody’s also expects that by fiscal 2022, RIL’s hydrocarbon businesses will account for about 50 percent of consolidated EBITDA. However, one major concern that Moody’s pointed out is RIL’s dependence on the Indian economy. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.