Sesa Sterlite gains; Moody's upgrades Vedanta
Apr 03 2014 , Mumbai
Moody's said Vedanta has taken steps to improve its credit profile, simplifying its group structure through the formation of Sesa Sterlite - the result of a merger between Sesa Goa and Sterlite Industries - and through its more proactive approach to refinancing debt.
Moody's has a "Ba1" corporate rating on Vedanta and a "Ba3" rating on the miner's senior unsecured debt.
Shares in Sesa gained 1.2 percent while Hindustan Zinc gained 0.5 percent.