Moody's: Vedanta challenged

Moody's Investors Service said that Vedanta Resources plc's key credit issues arising from the group's structure and its strategic direction have remained undiminished over these past few years and are behind the negative outlook for its Ba1 corporate family rating and its Ba2 senior unsecured bond rating.

"Various credit issues have been largely unaddressed or unchanged through the last few years, and despite its larger organization and broader footprint, some of Vedanta's issues are now more pronounced, and weigh on the company's credit profile and ratings, culminating in the current rating and outlook," Alan Greene, a Moody's vice president and senior credit officer, said in a news release.

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