RNS Number : 3586W
Vedanta Resources PLC
10 June 2008
10 June 2008
S&P Raises Credit Outlook to Positive
Vedanta Resources plc ('Vedanta'), the London listed FTSE 100 diversified miner, is pleased to announce that Standard and Poor's ('S&P') rating service has raised its outlook on Vedanta from negative to positive.
S&P also affirmed its 'BB' rating on both Vedanta's senior unsecured debt and foreign currency corporate credit ratings.
The positive outlook reflects the potential of a one notch improvement in rating, against the backdrop of a steady improvement in the credit metrics and the strong liquidity position of the group.
For further information, please contact:
Associate Director - Investor Relations
Vedanta Resources plc
Tel: +91 22 6646 1531
Tel: +44 20 7251 3801
About Vedanta Resources
Vedanta Resources plc ('Vedanta') is a London listed FTSE 100 diversified metals and mining major. The group produces aluminium, copper, zinc, lead, iron ore and commercial energy. Vedanta has operations in India, Zambia and Australia and a strong organic growth pipeline of projects. With an empowered talent pool of 29,000 employees globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of entrepreneurship, excellence, trust, inclusiveness and growth. For more information visit www.vedantaresources.com
This press release contains 'forward-looking statements' - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' 'should' or 'will.' Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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