MUMBAI, India--(BUSINESS WIRE)--Global Cloud Xchange (GCX), a subsidiary of Reliance Communications (RCOM), today received B2 rating affirmation from Moody’s on the heels of announcing the deployment of its Cumulous Network, a major step forward in provisioning next generation connectivity services to support digital transformation and economic growth across India and the emerging markets.
"The affirmation of GCX’s B2 rating reflects its moderate leverage position, continued revenue visibility afforded by its long-term contracts and our expectation that the company will continue to execute $65-70 million of IRU contracts in each of 2017 and 2018," says Annalisa Di Chiara, a Moody's Vice President and Senior Credit Officer in a press release issued by Moody’s earlier today.
“We are pleased with Moody’s assessment of GCX, which is a validation of the strategic direction and success of our key initiatives, supported by our parent company RCOM,” said Bill Barney, Co-CEO, RCOM and Chairman & CEO, GCX.
With RCOM’s massive deleveraging of its assets through a wireless merger with Aircel and a tower divestment with Brookfield, GCX is well positioned to further expand on its key initiatives and grow RCOM’s residual business in terms of revenue and EBITDA.
About Reliance Communications
Reliance Communications Limited founded by the late Shri Dhirubhai H Ambani (1932-2002) is the flagship company of the Reliance Group. The Reliance Group currently has a net worth in excess of Rs. 100,840 crore (US $15.2 billion), cash flows of over Rs 11,300 crore (US $1.7 billion) and net profit of over Rs 5,100 crore (US$ 0.8 billion).
Reliance Communications is India's foremost and truly integrated telecommunications service provider. The Company has a customer base of nearly 96 million including over 2.6 million individual overseas retail customers. Reliance Communications corporate clientele includes over 39,000 Indian and multinational corporations including small and medium enterprises and over 290 global, regional and domestic carriers.
Reliance Communications has established a pan-India, next generation, integrated (wireless and wireline),convergent (voice, data and video) digital network that is capable of supporting best-of-class services spanning the entire communications value chain, covering over 21,000 cities and towns and over 400,000 villages. Reliance Communications owns and operates the world's largest next generation IP enabled connectivity infrastructure, comprising over 280,000 kilometers of fibre optic cable systems in India, USA, Europe, Middle East and the Asia-Pacific region.
About Global Cloud Xchange
Global Cloud Xchange (GCX), a subsidiary of Reliance Communications (RCOM), offers a comprehensive portfolio of solutions customized for carriers, enterprises and OTTs. GCX owns the world’s largest private undersea cable system spanning more than 67,000 route kms which, seamlessly integrated with RCOM’s 200,000 route kms of domestic optic fiber backbone, provides a robust Global Service Delivery Platform. With connections to 40 key business markets worldwide spanning Asia, North America, Europe and the Middle East, GCX delivers Managed Services to more than 160 countries and offer extensive VPLS-enabled Ethernet network capabilities globally. GCX is equipped to support businesses through the deployment of next generation Enterprise solutions across its Cloud Delivery Networks.