Pressures are mounting at London-based Vedanta
Resources after the delisting flopped, given it would have helped the holding company more easily access cash at the unit. That’s triggered warnings from credit rating firms about Vedanta Resources’ debt pile. Vedanta’s businesses include zinc, aluminum and oil and gas. Those commodities were hit by a slump in demand amid the pandemic earlier this year, though prices have since rebounded.
Investors and rating companies
are scrutinizing the group’s refinancing plans as tycoon Anil Agarwal tries to streamline its corporate structure. Holding companies
including Vedanta Resources, which are controlled Agarwal, face their highest debt repayments in years.
A spokesman for the Vedanta group declined to comment.
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