Vedanta Shares Take a Hit as S&P Downgrades Parent Company’s Outlook

Companys, Downgrades, Hit, Outlook, parent, Shares, Vedanta


“Vedanta Resources is making refinancing progress, but execution risks remain,” said the S&P release. “We understand that the company is in discussions to raise further funds in excess of $1 billion. We see material risks, given a challenging funding environment and the absence of traditional funding sources such as capital markets. This is the basis for the negative rating outlook on Vedanta Resources,” said the agency.


Source link

Leave a Comment