India's Vedanta is confident of meeting its debt maturities of $2.7 billion this fiscal year and committed to bringing down its debt, its CFO said on Monday.
FILE PHOTO: FILE PHOTO: A man walks past the logo of Vedanta outside its headquarters in Mumbai, India January 31, 2018. REUTERS/Danish Siddiqui/File Photois confident of meeting its debt maturities of $2.7 billion this fiscal year and committed to bringing down its debt, its CFO said on Monday.
The company is committed to reducing debt as its "high-quality" assets continue to generate a healthy cash flow, Sonal Shrivastava said in a statement. The company's net debt as of July 24 was $7.2 billion with an average interest rate of 8.7%, Shrivastava said. Earlier this year, S&P Global Ratings raised doubts about parent Vedanta Resources' ability to meet financial obligations beyond September.it had trimmed its gross debt by $1 billion as the firm sought to allay concerns over its ability to meet financial obligations.
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