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S&P downgrades Vedanta Resources, puts it on credit watch

29th September 2023

By: Reuters

  

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BENGALURU - S&P Global Ratings downgraded the rating of Vedanta Resources, parent of India's Vedanta, to "CCC" from "B-" on Friday and placed it on credit watch with negative implications.

"We believe the likelihood has increased that Vedanta Resources will undertake a liability management exercise that we could consider distressed under our criteria," the rating agency said.

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