S&P: Vedanta view to positive

Standard & Poor's said it revised the outlook on Vedanta Resources plc to positive from stable and affirmed its BB long-term corporate credit rating and BB rating on its senior unsecured notes.

The positive outlook reflects an expectation that Vedanta's operating performance will improve over the next one year, supported by the progressive commissioning of sizable capacity expansion projects and benefits from a rebound in metal and mineral prices, S&P said.

The agency said it believes that Vedanta is on track to successfully commission its various capital expenditure programs and that metal prices will remain firm.

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