Vedanta's financial performance is likely to remain weak for at least 12 more months, mainly because of low oil prices. Any delay in ramp-up of the company's aluminum production could put additional pressure on the rating. We are lowering our foreign currency long-term corporate credit rating on Vedanta and our long-term issue ratings on the company's guaranteed notes and loans to 'BB-' from 'BB'. We are removing the ratings from CreditWatch, where they were placed with negative implications on Jan. 6, 2015. The negative outlook reflects the risk of a delay in improvement in Vedanta's operating performance, particularly for the aluminum operations. On April 7, 2015, Standard&Poor's Ratings Services lowered its foreign currency long-term corporate credit rating on
