Vedanta on Thursday said ICRA has assigned A1+ rating to the company's Rs 2,500-crore commercial paper, citing multiple positives. ICRA highlighted Vedanta's diversified product portfolio and a healthy market share while assigning the rating, the company said. A1+ is the highest rating in a scale of ratings provided by the credit rating agency for such instruments.
"ICRA Ltd...has assigned ICRA A1+ Rating on commercial paper," Vedanta said in a filing to the BSE.
Similarly, the credit rating agency has also assigned an ICRA AA- rating to Vedanta's long-term bank loans, it said.
The mining major has proposed a vertical split of the businesses and is expected to list five entities on the stock exchanges by the end of this year.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.