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Moody’s Investors Service: Moody’s downgrades Vedanta Resources’ corporate family rating to Caa2

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Vedanta

Vedanta Resources (Photographer: Kanishka Sonthalia/Bloomberg)


Moody’s Investors Service said it has downgraded the corporate family rating for Anil Agarwal-promoted Vedanta Resources Limited (VRL) in the absence of any meaningful progress on refinancing its upcoming debt maturities.


The rating service downgraded the rating to Caa2 from the earlier Caa1. According to Moody’s rating scale, Caa indicates obligations that are judged to…

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