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    HomeNewsBusinessS&P Global Ratings revises outlook to negative for Vedanta Resources

    S&P Global Ratings revises outlook to negative for Vedanta Resources

    In a statement, it said Vedanta Resources’ weakened access to cash flow from its operating subsidiaries at a time of challenging external financing conditions has raised its refinancing risk.

    PTI
    August 03, 2023 / 18:43 IST
    The agency has affirmed the ’B-’ rating for the company.

    S&P Global Ratings on Thursday revised the credit outlook for Vedanta Resources Ltd to negative, citing increased funding risks. The agency has affirmed the ’B-’ rating for the company. It indicates a relatively higher credit risk.

    In a statement, it said Vedanta Resources’ weakened access to cash flow from its operating subsidiaries at a time of challenging external financing conditions has raised its refinancing risk.

    "The company has about USD 3 billion of debt due between now and August 2024,” it said. Vedanta Resources is making refinancing progress, but execution risks remain, the agency said.

    PTI
    first published: Aug 3, 2023 06:43 pm

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