...May 17, 2021 SINGAPORE (S&P Global Ratings) May 18, 2021--S&P Global Ratings today said Vedanta Resources Ltd.'s (B-/Stable/--) ability to meet debt maturities until at least June 2022 has strengthened because of the likely strong operating performance of its subsidiary Vedanta Ltd. We forecast Vedanta Ltd. will generate solid consolidated free operating cash flow of about US$2.5 billion in fiscal 2022 (year ending March 2022), based on the company's operational and capital expenditure guidance. Strong commodity prices should support Vedanta Ltd.'s robust performance, enhancing its ability to pay dividends to Vedanta Resources and help the parent's refinancing. Vedanta Resources will use part of the proceeds of its US$1.2 billion bond issued in February 2021 to meet its debt maturities of about US$550 million (including intercompany loans) in the quarter ending June 2021. We expect the company to use a combination of refinancing at Vedanta Resources and dividends from Vedanta Ltd. to meet...
