S&P upgrades Vedanta Resources rating on improving capital structure ...Middle East

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S&P upgrades Vedanta Resources rating on improving capital structure
source : Business Standard ( Middle East ) () 52
S&P Global Ratings on Thursday said it has upgraded the rating of mining conglomerate Vedanta Resources Ltd to 'B' from 'CCC+' on improving capital structure and liquidity. "We believe Vedanta Resources Ltd has sufficient internal resources to meet debt maturities until December 2025, following recent funds raised and improved dividend capacity at its subsidiaries," S&P said in a statement. The company, which is the parent firm of Mumbai-listed Vedanta Ltd, has adequate internal funds to meet USD 1.4 billion of debt maturities due by the end of 2025. S&P Ratings gave a stable outlook on Vedanta's rating. "We raised our long-term issuer credit rating on Vedanta Resources as well as the issue

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