by Amruth Sundarkumar | Oct 13, 2022 | Corporates, High Yield Bonds, India
Vedanta Ltd.’s shareholders in a vote, approved of the company’s proposal to shift INR 125.9bn ($1.6bn) from its accumulated general reserves which are likely to be used for special dividend payments. It received the approval of more than 99.96% of the...
by Amruth Sundarkumar | Oct 11, 2022 | Corporates, Credit Ratings
After downgrading Transocean to SD last week, S&P has reversed its ratings on the driller and upgraded it to CCC. After exchanging its near term maturities for longer dated bonds due 2029, the rating agency is of the view that Transocean has enhanced its...
by Amruth Sundarkumar | Oct 10, 2022 | Corporates, India
Adani Group is in early discussions with Singapore-based GIC and Temasek Holdings to raise at least $10bn to support the Indian conglomerate’s foray into clean energy and ports, as per Mint. The news agency said that Adani is also in talks with other wealth funds and...
by Amruth Sundarkumar | Oct 10, 2022 | Corporates, Credit Ratings, Distressed / Defaulted Bonds
Bed Bath & Beyond was downgraded to Ca from Caa2 by Moody’s due to a “high likelihood of a default over the next twelve months” and “governance considerations”. The American retailer is exploring a possible distressed exchange for its...
by Amruth Sundarkumar | Oct 5, 2022 | Corporates, Credit Ratings, India
Greenko Energy was upgraded to BB- from B+ by S&P upon the improvement in its business position due to its stabilizing operating performance. Greenko’s diversified portfolio is set to lead to better operating performance and cash flows, helped by its...
by Amruth Sundarkumar | Oct 4, 2022 | Corporates, Credit Ratings
Transocean, the American offshore driller was downgraded to SD by S&P after completing a series of distressed debt exchanges. S&P views the exchange as tantamount to default. It was downgraded to CC from CCC- when it had initially made the offer to its...
