Refinancing debt more challenging for Vedanta Resources in tight market

While current capital market conditions have reduced Vedanta Resources' funding options, its strong underlying ops remain supportive of the company's ability to meet its immediate debt obligations

Rating agency Standard and Poor’s (S&P) has said Vedanta Resources Ltd.'s refinancing of upcoming debt maturities of more than $2 billion over the next 6 months has become more challenging, given tightening conditions in capital markets.

While current capital market conditions have reduced Vedanta Resources' funding options, its strong underlying operations remain supportive of the company's ability to meet its immediate debt obligations.

The maturities during this period include its $1 billion bond due in July 2022. It previously expected maturities to be refinanced through a new bond issuance earlier this year.

S&P Global Ratings has a 'B-' rating on