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

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.