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Ind-Ra revises Vedanta s credit outlook to stable from negative

Ind-Ra revises Vedanta s credit outlook to stable from negative
business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.

Ind-Ra updates Vedanta s credit outlook to stable on better liquidity position

Ind-Ra updates Vedanta s credit outlook to stable on better liquidity position
origin-businesstoday.intoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from origin-businesstoday.intoday.in Daily Mail and Mail on Sunday newspapers.

PSU Divestments: Anil Agarwal joins hands with Centricus for $10 bn fund to participate in PSU divestments

2,500 Zambian Villagers to be Compensated by British Mining Company

Time to Pay for Damage Done Over 2,500 villagers in Zambia are to be financially compensated by a British mining company for significant water pollution to the region’s waterways. In a joint statement issued late last month, the villagers, represented by Leigh Day solicitors, and Vedanta Resources Ltd said: “Without admission of liability, Vedanta Resources Limited and Konkola Copper Mines Plc confirm that they have agreed, for the benefit of local communities, the settlement of all claims brought against them by Zambian claimants represented by English law firm Leigh Day.” The claim was brought by the thousands of locals including 642 children, against Konkola Copper Mines Plc and its parent company, UK-based Vedanta Resources.

S&P upgrades outlook on Vedanta Resources from negative to stable

Rating agency Standard & Poor s has upgraded the outlook on Vedanta Resources from negative to stable on reduced refinancing risk. The upgrade also reflects the company s strengthened ability to meet its debt obligations over the next 12-18 months. Vedanta Resources Ltd s open offer to increase its ownership in subsidiary Vedanta Ltd to 65 per cent is positive for liquidity at the holding company level. It has announced an open offer to acquire an additional 10 per cent stake in its 55 per cent-owned subsidiary Vedanta Ltd. We anticipate the transaction, which should conclude by March 2021, the rating agency said. The India-based commodity conglomerate s strong underlying earnings and recent redemption of a large part of its June 2021 bonds have lowered its refinancing risk. The company continues to improve its capital structure, S&P said in statement.

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