Vedanta gets solid vote of confidence from CRISIL, ICRA

Business Jul 18, 2025

Vedanta just got a solid vote of confidence from rating agencies CRISIL and ICRA, who reaffirmed its credit ratings—even though short-seller Viceroy Research recently made some noise with allegations against the company.
ICRA kept Vedanta at AA, while CRISIL maintained AAA for Hindustan Zinc Ltd and AA for Vedanta.

Vedanta's debt situation has improved significantly

CRISIL reviewed Vedanta independently and said the allegations haven't hurt its finances or daily operations.
In fact, Vedanta has improved its debt situation—cutting its leverage ratio from 3.2x to 2.5x in just a year—thanks to strong aluminum and zinc business.
The company's also been reshuffling its loans to lower costs starting FY 2026, showing it's serious about staying financially healthy no matter the headlines.