Research Update: Vedanta Resources Upgraded To 'B-' From 'CCC+' On Improving Capital Structure And Liquidity; Outlook Stable - S&P Global Ratings’ Credit Research

Research Update: Vedanta Resources Upgraded To 'B-' From 'CCC+' On Improving Capital Structure And Liquidity; Outlook Stable

Research Update: Vedanta Resources Upgraded To 'B-' From 'CCC+' On Improving Capital Structure And Liquidity; Outlook Stable - S&P Global Ratings’ Credit Research
Research Update: Vedanta Resources Upgraded To 'B-' From 'CCC+' On Improving Capital Structure And Liquidity; Outlook Stable
Published Jul 25, 2024
8 pages (3406 words) — Published Jul 25, 2024
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

We believe Vedanta Resources Ltd. has sufficient internal resources to meet debt maturities until December 2025 following recent funds raised and improved dividend capacity at its subsidiaries. In our view, the company is likely to proactively look to refinance the US$600 million bond due April 2026, which if not done by December 2025 could increase liquidity pressure. That is the key credit factor to watch now. We raised our long-term issuer credit rating on Vedanta Resources as well as the issue ratings on its senior unsecured bonds to 'B-' from 'CCC+'. The stable outlook reflects our view that the company will proactively address the maturity of US$1.2 billion of debt in April 2026, with clarity over these plans by early

  
Brief Excerpt:

...- We believe Vedanta Resources Ltd. has sufficient internal resources to meet debt maturities until December 2025 following recent funds raised and improved dividend capacity at its subsidiaries. - In our view, the company is likely to proactively look to refinance the US$600 million bond due April 2026, which if not done by December 2025 could increase liquidity pressure. That is the key credit factor to watch now. - We raised our long-term issuer credit rating on Vedanta Resources as well as the issue ratings on its senior unsecured bonds to 'B-' from '###+'. - The stable outlook reflects our view that the company will proactively address the maturity of US$1.2 billion of debt in April 2026, with clarity over these plans by early 2025....

  
Report Type:

Research Update

Ticker
VED@LN
Issuer
Vedanta Resources Ltd.
GICS
Diversified Metals & Mining (15104020)
Sector
Global Issuers
Country
United Kingdom
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Vedanta Resources Upgraded To 'B-' From 'CCC+' On Improving Capital Structure And Liquidity; Outlook Stable" Jul 25, 2024. Alacra Store. Nov 06, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Vedanta-Resources-Upgraded-To-B-From-CCC-On-Improving-Capital-Structure-And-Liquidity-Outlook-Stable-3220061>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Vedanta Resources Upgraded To 'B-' From 'CCC+' On Improving Capital Structure And Liquidity; Outlook Stable Jul 25, 2024. New York, NY: Alacra Store. Retrieved Nov 06, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Vedanta-Resources-Upgraded-To-B-From-CCC-On-Improving-Capital-Structure-And-Liquidity-Outlook-Stable-3220061>
  
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