Moody's alters Vedanta view to negative

Moody's Investors Service said it changed the outlook to negative from stable and affirmed Vedanta Resources Ltd.’s B2 corporate family rating and B3 rating on the senior unsecured notes issued by VRL and those issued by its wholly-owned subsidiary Vedanta Resources Finance II plc, and guaranteed by VRL.

"The change in outlook to negative reflects holding company VRL's large near-term refinancing requirements amid tightening liquidity in the capital markets," said Kaustubh Chaubal, a Moody's vice president and senior credit officer, in a press release.

"The continued delay in refinancing its upcoming debt maturities with long-term funding raises concerns over the company's liquidity management, even as supportive commodity prices have improved its key financial metrics," Chaubal added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.