Vedanta says ICRA has assigned top rating to its commercial paper

Vedanta on Thursday said ICRA has assigned A1+ rating to the company's Rs 2,500-crore commercial paper, citing multiple positives.

ICRA highlighted Vedanta's diversified product portfolio and a healthy market share while assigning the rating, the company said.

A1+ is the highest rating in a scale of ratings provided by the credit rating agency for such instruments.

"ICRA Ltd...has assigned ICRA A1+ Rating on commercial paper," Vedanta said in a filing to the BSE.

Similarly, the credit rating agency has also assigned an ICRA AA- rating to Vedanta's long-term bank loans, it said.

The mining major has proposed a vertical split of the businesses and is expected to list five entities on the stock exchanges by the end of this year.