Moody's downgrades Vedanta Resources' corporate family rating to Caa2; outlook remains negative
Moody's has also downgraded to Caa3 from Caa2 its rating on the senior unsecured bonds issued by Vedanta Resources and those issued by Vedanta Resources's wholly owned subsidiary, Vedanta Resources Finance II Plc, and guaranteed by Vedanta Resources.
Moody's Investors Service downgraded Vedanta Resources' Limited (VRL) corporate family rating (CFR) from Caa1 to Caa2 over elevated risks of debt restructuring over the next few months. With the current downgrade, the outlook remains negative for the parent company of Vedanta Ltd, as per the global ratings agency.
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