Fitch Assigns First-Time 'B-' Rating to Vedanta Resources with Positive Outlook

Fitch Ratings has assigned Vedanta Resources Limited (VRL) a first-time long-term foreign-currency issuer default rating of 'B-', with a Positive Outlook.

The agency also assigned a 'B-' rating to VRL's senior unsecured debt and proposed $1.2 billion notes, with a Recovery Rating of 'RR4'.

The Positive Outlook reflects VRL's improved financial flexibility, reduced debt, and enhanced access to capital markets for refinancing.

This development indicates potential for future credit rating upgrades, contingent upon continued financial improvements.

Source: Fitch Ratings,Economic Times