vedanta resources news

S&P downgrades Vedanta Resources over “distressed” bond extension

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S&P downgrades Vedanta Resources over “distressed” bond extension

S&P Global Ratings on Friday downgraded Vedanta Resources to among its lowest ratings citing a “distressed” bond extension move, marking the second downgrade of the company this week. The agency reduced Vedanta’s issuer rating to “SD” or “selective default” from “CC,” indicating the agency believes the company has defaulted on some payments but will meet … Read more

After Moody’s, S&P Global cuts Vedanta Resources’ rating; co placed under ‘CreditWatch negative’

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After Moody’s, S&P Global cuts Vedanta Resources’ rating; co placed under ‘CreditWatch negative’

MUMBAI – S&P Global Ratings has lowered the long-term issuer credit rating of Vedanta Resources and also on its outstanding debt to “CCC” from “B-”. The rating downgrade by S&P comes two days after Moody’s Investors Service slashed the conglomerate’s rating. It has also placed the ratings under CreditWatch with negative implications. “We believe the … Read more