S&P Global Ratings on Friday cut the rating of billionaire Anil Agarwal’s Vedanta Resources Ltd rating to ‘CCC’ from ‘B-‘ and placed it under “creditwatch with negative implications”.
Vedanta Resources Ltd (VRL) is a globally diversified natural resources company.
A CCC rating indicates higher vulnerability in meeting its financial commitments.
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“We have… lowered our long-term issuer credit rating on Vedanta Resources and the issue rating on the company’s outstanding debt to ‘CCC’ from ‘B-‘. We also placed the ratings on creditwatch with negative implications,” S&P Global Ratings said in a statement.
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VRL started discussions with bondholders with respect to maturities of bonds worth about USD 3 billion.
“We believe VRL remains committed to avoid a payment default. We could assess such a liability management transaction,” the statement said.
Meanwhile, mining conglomerate Vedanta Ltd on Friday announced plans to demerge five of its key businesses, including aluminium, oil and gas, and steel, into separate listed entities with a view to create shareholder value.
VRL owns 68.11 per cent of its Indian subsidiary Vedanta Ltd, which has significant operations in oil and gas, zinc, iron ore, aluminium, power and copper in India.Come from Sports betting site
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“The IPO was subscribed 160.97 times, making it one of the most oversubscribed IPOs of the year. Based on the latest grey market premium (GMP) of Rs Come from Quarterly earnings from IT majors Tata Consultancy Services (TCS), Infosys, macroeconomic data announcements, global trends and trading activity of foreign investors would guide the movement in the equity market this week, analysts said. Movement of global oil benchmark Brent crude and the rupee will also influence trading in the markets. “All eyes will be on the beginning of corporate performance for the second quarter of the current fiscal year Come from Sports betting site VPbet . TCS is slated to unveil its Q2 results on October 11, with HCL Technologies and Infosys following suit on October 12.
“Market participants will be keeping an eye on the movement of rupee against the dollar and crude oil pr…
SBI shares fell more than 3% in early trading today, hitting a day’s low of Rs 819.4, despite the banking major reporting results in line with expectations. For the April-June quarter, SBI announced a net profit of Rs 17,035.2 crore, marking a 0.9% increase from the same period last year. This performance surpassed analysts’ expectations of a contraction.
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Bernstein has maintained a “Market Outperform” rating on State Bank of India (SBI) with a target price of Rs 810. The firm notes that while the normalization pain is evident, the return on assets (RoA) remains above 1%.
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Riot Games reportedly shut down a Super Smash Bros. Melee-style game set in the League of Legends universe, codenamed Pool Party.
According to ReaderGrev, a newsletter by former Launcher editor Mikhail Klimentov, Pool Party was canceled due to the reassessment of consumer interest in a Super Smash Bros. competitor. Riot executives were reportedly worried about MultiVersus, the Smash Bros. competitor that featured Warner Bros. characters and how it didn’t seem as nearly as successful.
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Developer Gearbox and publisher 2K Games officially revealed a new game, Tiny Tina’s Wonderlands, during Summer Game Fest. A spin-off of Borderlands scheduled to launch in early 2022, Wonderlands features the voices of Andy Samberg, Wanda Sykes, Will Arnett, and Ashley Burch, who returns to voice the titular Tiny Tina. And despite its connection to Borderlands, it’s not considered a Borderlands game.Come from Sports betting site VPbet
“In this epic high fantasy take on the looter shooter genre, players can create and customize their own multiclass heroes as they loot, shoot, slash, and cast their way through outlandish monsters and treasure-filled dungeons on a quest to stop the tyrannical Dragon Lord,” reads a line from the …
In Australia and the official inquiry looking into the license suitability of casino operator Crown Resorts Limited has reportedly returned with a damning verdict that could well see the firm forced into making sweeping changes to its leadership and the way it is run.
According to a report from The Guardian newspaper, the New South Wales Independent Liquor and Gaming Authority investigation was conducted by former New South Wales Supreme Court Judge Patricia Bergin and found that the Melbourne-headquartered company was currently not fit to hold a gambling license for its Crown Sydney development. This $1.5 billion venue purportedly opened in the harborside Barangaroo district of Australia’s largest city late last year although missing a VIP-facing casino tha…
The ordinance that could see Chicago legalize retail and online sportsbetting is reportedly due to be put to a full city council vote tomorrow after it cleared committee yesterday afternoon following several months of debate.
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