Business Standard

Refinancing debt more challenging for Vedanta Resources in tight market

While current capital market conditions have reduced Vedanta Resources' funding options, its strong underlying ops remain supportive of the company's ability to meet its immediate debt obligations

Vedanta Resources
Premium

Vedanta Resources

Abhijit Lele Mumbai
Rating agency Standard and Poor’s (S&P) has said Vedanta Resources Ltd.'s refinancing of upcoming debt maturities of more than $2 billion over the next 6 months has become more challenging, given tightening conditions in capital markets.

While current capital market conditions have reduced Vedanta Resources' funding options, its strong underlying operations remain supportive of the company's ability to meet its immediate debt obligations.

The maturities during this period include its $1 billion bond due in July 2022. It previously expected maturities to be refinanced through a new bond issuance earlier this year.

S&P Global Ratings has a 'B-' rating on

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 22 2022 | 10:25 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com