Vedanta Receives Top Rating for Commercial Paper from ICRA
May 30, 2024 21:41
ICRA has assigned a top rating of A1+ to Vedanta's Rs 2,500 crore commercial paper, citing the company's diversified portfolio and strong market share.
Photograph: Danish Siddiqui/Reuters
New Delhi, May 30 (PTI) 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.
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