MUMBAI: S&P Global Ratings on Tuesday said Vedanta Resources‘ ability to meet debt maturities till June next year is backed by strong operating performance of its subsidiary Vedanta Ltd.
“We forecast Vedanta will generate solid consolidated free operating cash flow of about US$2.5 billion in fiscal 2022 (year ending March 2022), based on the company’s operational and capital expenditure guidance. Strong commodity prices should support Vedanta Ltd.’s robust performance, enhancing its ability to pay dividends to Vedanta Resources and help the parent’s refinancing” said S&P.
Vedanta Resources will use part of the proceeds of its $1.2 billion bond issued in February 2021 to meet its debt maturities of about $550 million (including i…
Read the full article at: https://www.livemint.com/companies/news/vedanta-resources-strong-operating-performance-to-help-debt-servicing-sp-11621326631153.html
