This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.

Vedanta Resources’ outlook was revised upward to ‘positive’ from ‘stable’ by S&P. The enhanced outlook reflects S&P’s improved view of Vedanta’s capital structure, liquidity and debt-refinancing prospects. Over the past year, Vedanta has reduced leverage, improved internal cash flows and enhanced its ability to meet upcoming debt maturities. These prompted prior upgrades of Vedanta by S&P, from CCC+ to B- and then further to B and B+. S&P specifically cited easing refinancing risks, stronger free-cash-flow generation (particularly from metals and mining operations), and improved funding flexibility. If Vedanta continues to strengthen its financial profile, further rating upgrades are possible due to the positive outlook, S&P added.
Vedanta’s dollar bonds were trading stable – for instance, its 11.25% 2031s were trading at 105.1, yielding 10.1%.
For more details, click here