Credit Rating agency, India Ratings and Research (Ind-Ra) has revised the outlook of Vedanta to stable from positive. The revision in outlook reflects the delay in deleveraging in FY19 and FY20 as against Ind-Ra's expectations, due to acquisition outflows and higher-than-expected dividend distribution.
Ind-Ra has affirmed the company’s long-term issuer rating at ‘AA’. Instruments with rating ‘AA’ are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.
