Vedanta: Resilience Amidst Financial Skepticism

Vedanta's credit ratings have been reaffirmed by Crisil Ratings and ICRA, reinforcing confidence in its business stability and financial health. Despite allegations of financial unsustainability from US short-seller Viceroy Research, Vedanta maintains that these claims are misleading and continue to rely on strong governance and profitability.

On Friday, Vedanta announced that rating agencies Crisil Ratings and ICRA have reaffirmed the company's credit ratings. This move signals renewed trust in the mining giant's business stability and financial strength.

In a regulatory announcement, Vedanta stated that ICRA has reiterated its confidence in the company's governance and financial performance by maintaining its long-term rating at AA. Similarly, Crisil Ratings continues to uphold Vedanta's solid credit reputation, with ratings of Crisil AAA for Hindustan Zinc Ltd and Crisil AA for Vedanta.

Despite a report from US-based Viceroy Research labeling the group as financially unsustainable, Vedanta refutes these claims, describing them as misinformation. The company emphasizes its ongoing debt reduction initiatives and robust profitability, essential in maintaining their credit profile.

(With inputs from agencies.)