Vedanta Resources Ltd.'s improving cost structure and rising product prices will strengthen its earnings and credit metrics. Newly secured liquidity lines, robust operating cash flows, and better access to traditional funding sources will also bolster the liquidity of the India-focused commodity company. On May 14, 2026, S&P Global Ratings raised its long-term issuer credit rating on Vedanta Resources to 'BB' from 'B+'. At the same time, we raised our ratings on the company's senior unsecured notes to 'BB-' from 'B'. The stable rating outlook reflects our expectation of improved cash flows, proactive refinancing, and continued deleveraging. The company's alumina refinery facility that was commissioned late last year at Lanjigarh (in eastern India) is ramping up in line with our expectation.
