India Business News: MUMBAI: Rating agency S&P has downgraded Anil Agarwal's Vedanta Resources to 'CC', citing the company's decision to extend the maturity of its interna.
Analysts assert that Vedanta Group s plan to demerge India-listed Vedanta Limited into six listed entities will not resolve the debt problem of its promoter entity, Vedanta Resources (VRL).
They suggest that additional asset sales or stake sales by promoters will be necessary to repay the debt.
Vedanta is already considering the divestment of its iron-steel division and its copper plant.