Vedanta Resources 'B-' Ratings Placed On CreditWatch Developing; Proposed Notes Assigned Preliminary 'B' Rating

Vedanta Resources Ltd.'s credit profile is dependent on the company's proposed privatization of its subsidiary Vedanta Ltd. A privatization of Vedanta Ltd. will improve the parent's liquidity, likely resulting in a one notch higher rating on closure of the transaction. However, an unsuccessful privatization would mean a less clear path for Vedanta Resources' refinancing of its near-term debt maturities, likely putting downward rating pressure. On Aug. 11, 2020, S&P Global Ratings placed on CreditWatch with developing implications its 'B-' long-term foreign currency issuer credit rating on Vedanta Resources and the 'B-' long-term issue rating on the various U.S. dollar-denominated senior unsecured notes the India-focused commodities company issued or guaranteed. We also assigned a preliminary 'B' rating to Vedanta Resources' proposed

...August 11, 2020 - Vedanta Resources Ltd.'s credit profile is dependent on the company's proposed privatization of its subsidiary Vedanta Ltd. - A privatization of Vedanta Ltd. will improve the parent's liquidity, likely resulting in a one notch higher rating on closure of the transaction. - However, an unsuccessful privatization would mean a less clear path for Vedanta Resources' refinancing of its near-term debt maturities, likely putting downward rating pressure. - On Aug. 11, 2020, S&P Global Ratings placed on CreditWatch with developing implications its 'B-' long-term foreign currency issuer credit rating on Vedanta Resources and the 'B-' long-term issue rating on the various U.S. dollar-denominated senior unsecured notes the India-focused commodities company issued or guaranteed. - We also assigned a preliminary 'B' rating to Vedanta Resources' proposed senior secured notes, reflecting the company's post-privatization issuer credit rating. SINGAPORE (S&P Global Ratings) Aug. 11, 2020--S&P...

Ratings Action