Moody's Ratings has upgraded the corporate family rating of Vedanta Resources Limited (VRL). Giving this information, the rating agency said that the corporate family rating of Vedanta Resources has been upgraded from B3 to B2, along with this, the rating of senior unsecured bonds issued by VRL and VRL's wholly-owned subsidiary Vedanta Resources Finance II PLC has been upgraded from C2A1 to B3. Along with this, the outlook has been kept stable.



What is the reason According to Nidhi Dhruv, Vice President and Senior Credit Officer of Moody's Ratings, the rating has been upgraded in view of the successful management of liabilities by VRL. The company has raised $800 million through bond issues since September 2024. The rapid amount raised by the company shows that Vedanta's reach in the market is strong and investors' confidence in the company is increasing. On November 26, VRL announced that it has raised $300 million through 10.25 percent senior unsecured notes due in June 2028 and $500 million through 11.25 percent senior unsecured notes due in December 2031. Part of this amount will be used to pay some of the debt. This will leave only $400 million of debt on which high interest (13.875 percent) has to be paid. According to the agency, they do not believe that the recently raised debt reflects the difficult situation of the company. Because at present there is no situation of default. VRL's next bond maturity is in April 2026 in which bonds worth $600 million will mature. It is expected that the company will settle this liability in time.