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S&P upgrades Vedanta Resources rating on improving capital structure

Business Standard LogoBusiness Standard12h ago

S&P upgrades Vedanta Resources rating on improving capital structure - Business Standard

Quick Summary:

"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," S&P said in a statement.

The company, which is the parent firm of Mumbai-listed Vedanta Ltd, has adequate internal funds to meet USD 1.4 billion of debt maturities due by the end of 2025.

"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+'," it said.


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Article Details

Category: BusinessFinance

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-25 @ 18:14:52 (12 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 630 words

Reading Time: 4 minutes read

Sentences: 16 lines

Sentence Length: 40 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21772808

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 321 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 5 hours ago

Coverage Areas: India

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Publisher ID: #49

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