Vedanta Resources' financial performance is likely to remain weak for at least 12-18 months because of weak commodity prices and the company's high debt. Vedanta Resources has to refinance its lumpy maturities in mid-2016 and has a high level of short-term debt, which we expect its good banking relationships will help address. We are lowering our foreign currency long-term corporate credit rating on Vedanta Resources and our long-term issue ratings on the notes and loans that the company issued or guarantees to 'B+' from 'BB-'. We are removing the ratings from CreditWatch, where they were placed with negative implications on Sept. 9, 2015. The negative outlook reflects the risk that Vedanta Resources' financing for its upcoming maturities could be delayed
