Vedanta slips nearly 3% after Moody's downgrades its parent company's rating
Moody's Investors Service on Tuesday said it has downgraded its rating on the senior unsecured bonds issued by Vedanta Resources to Ca from Caa3. The brokerage has also downgraded the rating for the Corporate Family Rating (CFR) of Vedanta Resources to Caa3 from Caa2.
The stock of Vedanta Ltd was trading lower by 2.78 per cent, or Rs 7.25, at Rs 253.20 at 9:33 am on Wednesday. Photo: Reuters/Representational