← Latest news 
S&P upgrades Vedanta Resources to BB on demerger fuelled cost cuts and liquidity surge
Economy
Published on 14 May 2026
Aluminium costs may drop by USD 50 per tonne
S&P Global Ratings upgraded London-based Vedanta Resources Ltd to BB from B+, citing improved finances and cost efficiency after the group’s demerger. The agency also raised ratings on the company’s senior unsecured notes to BB- from B-. The stable outlook reflects expected better cash flows, proactive refinancing, and ongoing deleveraging. S&P pointed to stronger aluminium competitiveness, a ramp-up of the Lanjigarh alumina refinery, backward integration into bauxite mining, and a liquidity position supported by long-term banking lines and sizable cash balances.
- S&P lifted Vedanta Resources to BB from B+ after the demerger
- Senior unsecured notes were raised to BB- from B+ instruments
- Expected captive alumina coverage to exceed 75% by next fiscal year
- Production cost for aluminium may fall by USD 50 per tonne
- Liquidity supported by 2 billion-plus in long-term banking lines
- Cash and cash equivalents exceed USD 3 billion
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times