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Vedanta Resources plc (VDNRF)

YHD - YHD Delayed price. Currency in USD
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At close: 06:07PM EDT
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  • Reuters

    Moody's cuts rating on Vedanta Resources citing high default risk

    Moody's Investors Service on Tuesday downgraded miner Vedanta Resources' corporate family rating (CFR) and senior unsecured bonds, a second such move since September, citing concerns over the company's ability to address its cash needs. The rating agency downgraded Vedanta Resources' CFR to Caa3 from Caa2 on Tuesday and its senior unsecured bonds to Ca from Caa3, while maintaining its negative rating outlook. Moody's said that Vedanta Resources, the parent of Indian miner Vedanta Ltd, will face material liquidity issues over the upcoming 24 months and warned that the "default risk" remains high.

  • Reuters

    Vedanta Resources' bondholders back debt restructuring plan

    BENGALURU (Reuters) -UK-based Vedanta Resources said on Wednesday it received bondholders' support to restructure some of its near-term debt, easing repayment pressure on the parent of Indian metals conglomerate Vedanta Ltd. Billionaire Anil Agarwal's Vedanta Resources last year proposed restructuring four series of bonds, including two due for maturity in 2024, one in 2025 and another in 2026, to ease its massive debt burden. It received consent from about 97% to 100% of bondholders across the four series of bonds, surpassing the required threshold of 66.67%, it said in a regulatory filing.

  • Reuters

    S&P Global Ratings downgrades Vedanta Resources amid bond maturity extension

    S&P Global Ratings on Thursday downgraded the rating of Vedanta Resources, parent of Indian miner Vedanta Ltd, citing concerns about extension of maturities of some of its bonds. Vedanta Resources late Wednesday said it raised $1.25 billion from financial institutions for refinancing, including a new credit facility. The company also said it started consent solicitations with existing bondholders to extend debt maturity profile, allowing for extension of maturities, amendments to bond terms and seeking certain waivers.