Vedanta Secures Moody's Upgrade with Strategic Bond Issuances

Moody's has upgraded Vedanta Resources Ltd's corporate rating from B3 to B2 after their successful management of liabilities. Following a $800 million bond issue, the company has improved liquidity and investor confidence, reducing net debt by $1 billion and refinancing over $1.2 billion bonds this fiscal year.

Moody's Ratings has elevated Vedanta Resources Ltd's corporate family rating from B3 to B2, reflecting successful liability management by the mining giant. This upgrade includes senior unsecured bonds rising from Caa1 to B3, bolstering investor confidence.

Recently, Vedanta raised $800 million through a new bond issue to prepay 2028 debts, following a $900 million bond issue last month. These swift actions underline Vedanta's ongoing efforts to deleverage its balance sheet and enhance its financial structure.

In the current fiscal year, Vedanta has refined its financial standing by reducing net debt by $1 billion and refinancing bonds exceeding $1.2 billion, demonstrating its robust access to capital markets and commitment to improving liquidity.

(With inputs from agencies.)