Ind-Ra upgrades Vedanta’s long-term issuer rating to ‘AA’; outlook stable
India Ratings and Research (Ind-Ra) on Tuesday said it has upgraded mining giant Vedanta Limited’s long-term issuer rating to ‘AA’ with a stable outlook.
AA-rated instruments are considered to have a high degree of safety regarding timely servicing of financial obligations.
In a statement, the ratings agency said it has “upgraded Vedanta Limited’s (VDL) long-term issuer rating to ‘IND AA’ from ‘IND AA-‘ and the outlook is stable”.
The rating upgrade reflects the group’s continuous deleveraging and expectation of an improvement in the consolidated operational cash flow in FY22 and FY23, following a significant increase in the operating profitability,
