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Fitch Upgrades Vedanta Resources on Reduced Refinancing Risks

Fitch Upgrades Vedanta Resources on Reduced Refinancing Risks In a significant financial development, Fitch has elevated Vedanta Resources Ltd's long-term foreign-currency issuer default rating. The upgrade from 'B-' to 'B+' signifies a reduced refinancing risk for the company.According to Fitch, this transition includes improving Vedanta's senior unsecured rating while shifting its outlook to stable. Additionally, the USD 300 million June 2028 bonds and USD 500 million December 2031 bonds, issued by Vedanta Resources Finance II Plc and guaranteed by VRL, are upgraded similarly.This financial revision follows Vedanta’s successful efforts in raising USD 1.1 billion in bonds and securing bank loans of USD 350 million, creating a more favorable debt maturity profile peaking in September 2029. Fitch acknowledges the company's improved access to funding and its stable liquidity forecast over the next two years.

In a significant financial development, Fitch has elevated Vedanta Resources Ltd's long-term foreign-currency issuer default rating. The upgrade from 'B-' to 'B+' signifies a reduced refinancing risk for the company. According to Fitch, this transition includes improving Vedanta's senior unsecured rating while shifting its outlook to stable.

Additionally, the USD 300 million June 2028 bonds and USD 500 million December 2031 bonds, issued by Vedanta Resources Finance II Plc and guaranteed by VRL, are upgraded similarly. This financial revision follows Vedanta's successful efforts in raising USD 1.1 billion in bonds and securing bank loans of USD 350 million, creating a more favorable debt maturity profile peaking in September 2029.

Fitch acknowledges the company's improved access to funding and its stable liquidity forecast over the next two years. (With inputs from agencies.).