Reuters
TEXT-Fitch rates VAL's bank loan at 'Fitch AA(SO)(ind)'
Edited by : AL CIRCLE
1 min read
Fitch Ratings has assigned India-based Vedanta Aluminium Ltd's (VAL) USD500m term loan a rating of 'Fitch AA(ind)(SO)'.
The rating reflects the unconditional and irrevocable guarantee provided by VAL's ultimate parent - the UK-based Vedanta Resources Plc ('BB+'/Stable) - for the debt. The guarantee covers timely payment of interest and principal obligations.
For more details, please refer to the Fitch's rating action commentary, "Fitch Rates Vedanta Aluminium's Project Finance Facility 'AA(ind)(SO)", dated 10 May 2011 and available at www.fitchratings.com.
The rating reflects the unconditional and irrevocable guarantee provided by VAL's ultimate parent - the UK-based Vedanta Resources Plc ('BB+'/Stable) - for the debt. The guarantee covers timely payment of interest and principal obligations.
For more details, please refer to the Fitch's rating action commentary, "Fitch Rates Vedanta Aluminium's Project Finance Facility 'AA(ind)(SO)", dated 10 May 2011 and available at www.fitchratings.com.
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