S&P upgraded Vedanta Resources' credit rating to 'B' due to improved capital structure and liquidity.
S&P Global Ratings upgraded Vedanta Resources Ltd's credit rating from 'CCC+' to 'B' due to improved capital structure and liquidity, forecasting EBITDA for fiscal 2025 and 2026 at $5.5-$6.0bn annually. The company's earnings benefit from favorable product prices and cost reduction initiatives, particularly in aluminum. Vedanta Resources is expected to meet its $1.4bn debt maturities by end-2025.
July 25, 2024
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