Vedanta Resources: Getting ZINCronized
- Admin
- Nov 30, 2017
- 1 min read
Vedanta Resources PLC (VED LN) ("Vedanta")'s rating upgrade by Moody's on 20-November reflects India's sovereign rating upgrade 3 days before, in our view, as operating environment is a main driver in Moody's rating model. Vedanta's improving credit metrics, evidenced by improving first half results, announced on 10-November was self-evident, in our opinion, but India's sovereign rating upgrade by Moody’s on 17-November was the reason why the agency abandoned its conservatism on commodity price projection and subsequently upgraded Vedanta's credit ratings. The potential positive rating action by S&P, following Moody's upgrade, and Vedanta's lengthening debt maturity profile are both credit and spread positive, in our view. Read more: https://www.smartkarma.com/insights/vedanta-resources-getting-zincronized
Recent Posts
See AllWe initiate our coverage on Bangladesh with a STABLE credit outlook for the country. Prime Minister Sheikh Hasina has been re-elected in...
In our third report in the Belt and Road Initiative (BRI) or One Belt One Road (OBOR) series, we examine a brand-new US strategic...
If we had to make a base observation for Asia credit markets over 2018, it was certainly caught “wrong-footed” like most of its other...
Comments