Credit rating agency -- Moody's Investors Service has changed outlook on Vedanta’s parent organization -- Vedanta Resources to 'negative' from 'stable'. The change in outlook to negative reflects company’s near-term refinancing requirement amid tightening liquidity in the capital markets.
The rating agency affirmed Vedanta Resources (VRL) B2 corporate family rating (CFR) and the 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.
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.
