Moody's Investors Service has downgraded Vedanta’s parent company -- Vedanta Resources’ Corporate Family Ratings (CFR) to B1 from Ba3. The agency has also downgraded the rating on senior unsecured bonds issued by Vedanta and those issued by its wholly owned subsidiary, Vedanta Resources Finance II Plc and guaranteed by Vedanta, to B3 from B2.
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.
