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Vedanta's financial flexibility improves with merger: S&P

Vedanta's financial flexibility improves with merger: S&P

Thursday, April 13, 2017, 7:41 PM

Mining mogul Anil Agarwal's Vedanta Ltd will get access to $4 billion of cash and another about $700 million a year following the merger with Cairn India, supporting repaying of $9 billion debt, S&P Global Ratings said today. S&P said its rating on the UK-listed Vedanta Resources is not immediately affected by the merger of the company's subsidiary Vedanta Ltd with Cairn India Ltd.
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