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Vedanta Resources PLC Ratings Affirmed At 'BB', Outlook Is Negative Mar 12
Standard & Poors, March 2012
The Cairn acquisition has improved Vedanta's cash flow diversity and size. These benefits partially offset increasing operating risks at other business segments in India. We are affirming the 'BB' long-term foreign currency corporate credit rating on Vedanta. The negative outlook reflects the large amount and short duration of the debt at the holding company and lower-than-expected performances at Vedanta's iron ore, power, and aluminum businesses. MUMBAI (Standard & Poor's) March 6, 2012--Standard & Poor's Ratings Services said today that it had affirmed its 'BB' long-term foreign currency corporate credit rating on India-based Vedanta Resources PLC. The outlook is negative. At the same time, we affirmed the 'BB' issue ratings on the company's senior unsecured notes. We also affirmed the 'BB'...
Companies mentioned in this report are: Vedanta Resources PLC
Action: Outlook: Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
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Vedanta Resources PLC