VRL’s stake sale in Vedanta not enough for stable rate outlook: S&P

August 8, 2023

S&P Global Ratings has deemed Vedanta Resources’ plan to sell its Indian-listed subsidiary stake, Vedanta Ltd, a credit-positive move but not enough to keep its rating outlook stable. The agency has changed Vedanta Resources’ outlook to “negative” from “stable” due to heightened refinancing risks, weak cash flow from its operations, and external financial challenges.

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