S&P upgrades Vedanta Resources to ‘B+’ on lower refinancing risks

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The rating agency bumped up the parent of Indian miner Vedanta to “B+” from “B” with a stable outlook and removed it from credit watch. “We consider the refinancing of $600 million 2026 bonds as a virtual certainty… Refinancing of the 2026 bonds will significantly reduce liquidity pressure and minimize refinancing risk,” S&P Global Ratings said in a statement.

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