​​​
  1. Moody’s upgrades Vedanta ratings after merger nod

Moody’s upgrades Vedanta ratings after merger nod

Moody’s Investor Services has upgraded Vedanta Resources’s ratings to B1 from B2. It has also upgraded the company’s unsecured rating to B3 from Caa1 and said the rating outlook is stable.

By: | Published: September 14, 2016 6:01 AM
Moody’s Investor Services has upgraded Vedanta Resources’s ratings to B1 from B2. It has also upgraded the company’s unsecured rating to B3 from Caa1 and said the rating outlook is stable. (Reuters) Moody’s Investor Services has upgraded Vedanta Resources’s ratings to B1 from B2. It has also upgraded the company’s unsecured rating to B3 from Caa1 and said the rating outlook is stable. (Reuters)

Moody’s Investor Services has upgraded Vedanta Resources’s ratings to B1 from B2. It has also upgraded the company’s unsecured rating to B3 from Caa1 and said the rating outlook is stable.

The rating agency hoped that a successful merger of Cairn India with Vedanta would improve the group’s liquidity and enhance its financial flexibility.

This could result in debt reduction. Improvement in the commodity prices also augurs well for the company.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

  1. No Comments.

Go to Top