business / news / / The Economic Times
The rating upgrade reflects the company's strengthening financial operations, improving cost structures, proactive refinancing and continued deleveraging.
S&P Global Ratings upgraded Vedanta Resources' long-term issuer credit rating to 'BB' from 'B+'.
KEY POINTS
- Vedanta's alumina refinery ramp-up at Lanjigarh will boost captive alumina coverage to over 75%.
- Increased backward integration into bauxite mining is expected to structurally strengthen Vedanta's margins.
- Vedanta Resources raised more than USD 3.5 billion via bond markets since late 2024.
- Improved liquidity is supported by over USD 2 billion in banking lines and over USD 3 billion cash.
COMPANIES
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