Sesa Sterlite gains; Moody's upgrades Vedanta

Shares in Sesa Sterlite Ltd and Hindustan Zinc gain after Moody's Investors Service upgraded its outlook for parent company Vedanta Resources Plc to "stable" from "negative".

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.


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