We expect Vedanta Resources' operating and financial performance to improve over the next 12-18 months owing to higher commodity prices and the company's ramp-up of its aluminum operations. Vedanta Resources continues to maintain adequate financial flexibility, in our view, to manage its refinancing risk. We are raising our foreign currency long-term corporate credit rating on Vedanta Resources and the long-term issue ratings on the company's issued or guaranteed notes and loans to 'B+' from 'B'. The stable outlook reflects our expectation that the likely improvement in Vedanta Resources' operating performance will support the company's financial position over the next 12-18 months. On Jan. 16, 2017, S&P Global Ratings raised its foreign currency long-term corporate credit rating on Vedanta Resources PLC
