Jeu 18 Aoû 2011 13:02
la pression monte sur VED
TEXT-'Fitch AA(ind)(SO)' for Vedanta Aluminium's Enhanced Loan
Thu Aug 18, 2011 7:21am BST
(The following was released by the rating agency)
MUMBAI/SINGAPORE, August 18 (Fitch) Fitch Ratings has assigned India-based Vedanta Aluminium Ltd's (VAL) INR61.5bn project finance facility a rating of 'Fitch AA(ind)(SO)'. The facility is fungible between letters of credit and rupee term loans. The total project finance facilities rated (including the above) aggregate to INR161.5bn.
The rating reflects the unconditional and irrevocable guarantee provided by VAL's ultimate parent - UK-based Vedanta Resources Plc (VRPLC, 'BB+'/Stable) - for the project finance facility. The guarantee covers timely payment of interest and principal obligations.
For details, please refer to the Fitch's ratings action commentary, "Fitch Rates Vedanta Aluminium's Project Finance Facility 'AA(ind)(SO)'", dated 10 May 2011 and available at www.fitchratings.com.