ICRA has maintained its long-term rating for Vedanta Ltd at AA, while CRISIL has upheld its long-term AA rating. Hindustan Zinc Ltd, Vedanta’s subsidiary, retains a CRISIL AAA rating. Both agencies also reaffirmed their short-term ratings for Vedanta at A1+ X (formerly Twitter)+5The Economic Times+5AInvest+5.
Despite a recent negative report by short-seller Viceroy Research—alleging financial discrepancies—Vedanta’s ratings remained unchanged. CRISIL stated that feedback from the company’s lenders and investors showed no adverse reaction to the report, and share prices for Vedanta and Hindustan Zinc have since recovered The Economic Times+5CRISIL+5AInvest+5.
Both rating agencies cited Vedanta’s robust business operations in metals and mining, steady debt reduction, and improved debt maturity profile as foundational strengths supporting the reaffirmation AInvest+1Rediff+1.
Source (full link):
https://www.ndtvprofit.com/markets/crisil-icra-reaffirm-credit-rating-underscore-confidence-in-business-stability-vedanta
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