VEDL · price
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ICRA has reaffirmed Vedanta Limited's credit ratings with the long-term rating at ICRA AA/Watch Developing and short-term rating at ICRA A1+. The ratings remain unchanged from previous levels. Additionally, ICRA assigned ICRA AA rating to Non-Convertible Debentures placed on Watch Developing. Importantly, ICRA has withdrawn the rating on Rs. 2,600 crore NCDs as these debentures are being transferred to Vedanta Aluminium Metal Limited following the demerger of Vedanta Limited. The Watch Developing status indicates ongoing review pending developments related to the corporate restructuring.
Ratings staying at ICRA AA with Watch Developing status suggests credit quality remains investment-grade but there is uncertainty pending the completion of the demerger. The NCD transfer to the aluminium business subsidiary is an administrative change, not a credit concern.