Vedanta’s shares will be in the spotlight after the credit rating agency ICRA upgraded its long-term credit rating. The mining company’s rating improved from AA- to AA, thanks to its strengthened financial position.
Key Highlights:
- Vedanta raised $1 billion in July through a qualified institutional placement (QIP) and an extra $400 million in August from selling part of Hindustan Zinc Ltd.
- The company now holds over ₹22,000 crore in cash reserves and funds from stake sales and dividends.
- Vedanta’s parent company, Vedanta Resources Ltd, is working to refinance its debt to reduce interest costs, improving financial flexibility.
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This upgrade signals confidence in Vedanta’s future growth and financial stability.
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