S&P downgrades Vedanta Resources over “distressed” bond extension

January 12, 2024

S&P Global Ratings reduced Vedanta’s issuer rating to “SD” or “selective default” from “CC,” indicating the agency believes the company has defaulted on some payments but will meet its other obligations on time. The cut comes after Moody’s downgraded the miner’s corporate family rating and senior unsecured bonds earlier this week.

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