Vedanta shares in focus as Crisil upgrades long-term debt rating to 'AA'
Vedanta shares are in focus today, December 4, after Crisil Ratings upgraded its rating on the company's long-term bank facilities and debt instruments from 'AA-' to 'AA'.
The upgrade reflects improved capital structure, better financial flexibility, and robust volume growth. Crisil highlighted significant improvement in Vedanta's consolidated operating profitability (EBITDA) and reduced debt and leverage below rating thresholds as key factors behind the revision.
This marks Vedanta's second major credit rating upgrade in three months. In September, ICRA also raised Vedanta's long-term credit rating to 'AA' from 'AA-', citing its strengthened credit profile.
UK-based Vedanta Resources, the parent of India's Vedanta, has raised USD 800 million from global investors through a new bond issue.
The proceeds will be used to prepay the company's outstanding debt due in 2028. In September, Vedanta raised USD 900 million, the company's first dollar bond issue in more than two years, to prepay existing bonds.
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