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CRISIL upgrades Vedanta's credit rating; outlook revised to stable

The rating action factors in stronger-than-expected operating profitability, driven by elevated commodity prices during fiscal 2022, volume growth across businesses, and sustained cost efficiency, especially in the aluminium business.

February 25, 2022 / 05:03 PM IST
Representative image

Representative image

CRISIL on Friday said it has upgraded its rating on the long-term bank facilities and debt instruments of Vedanta Ltd to 'AA'.

Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations.

Such instruments carry very low credit risk.

"Crisil Ratings has upgraded its rating on the long-term bank facilities and debt instruments of Vedanta Ltd …to CRISIL AA’ from CRISIL AA-, and has revised the outlook to 'Stable' from 'Positive',” it said in a statement.