Stock Market LIVE Updates: S&P Global Ratings downgrades Vedanta Resources amid bond maturity extension

 

S&P Global Ratings on Thursday downgraded the rating of Vedanta Resources, parent of Indian miner Vedanta Ltd, citing concerns about extension of maturities of some of its bonds.

Vedanta Resources late Wednesday said it raised $1.25 billion from financial institutions for refinancing, including a new credit facility.

The company also said it started consent solicitations with existing bondholders to extend debt maturity profile, allowing for extension of maturities, amendments to bond terms and seeking certain waivers.