...May 13, 2020 SINGAPORE (S&P Global Ratings) May 14, 2020--S&P Global Ratings today said the proposed privatization of Vedanta Resources Ltd.'s (B-/Stable/--) unit Vedanta Ltd. will improve the group's corporate structure and credit profile. This is despite a likely increase in Vedanta Resources' leverage due to the transaction. The proposed privatization is subject to several approvals, including by the Vedanta Ltd. board of directors, which is scheduled to meet on May 18. We expect a tender offer only around June or July this year. Meanwhile, Vedanta Resources' ability to refinance its near-term debt maturities, especially the US$670 million bond maturing in June 2021, remains the key rating driver. A successful privatization of Vedanta Ltd. should increase the parent's refinancing options. We may upgrade Vedanta Resources if its liquidity position improves as a result. However, a lack of progress on the refinancing over the next couple of quarters could lead us to lower the rating. Vedanta...
