S&P Global Ratings on Friday downgraded Vedanta Resources to among its lowest ratings citing a “distressed” bond extension move, marking the second downgrade of the company this week. The agency reduced Vedanta’s issuer rating to “SD” or “selective default” from “CC,” indicating the agency believes the company has defaulted on some payments but will meet …
Fame and Fortune: French billionaire François-Henri Pinault bought a majority interest in CAA, the agency that represents his wife, actress Salma Hayek. Jeff Kravitz/FilmMagic A new report says the powerful talent agency faces financial headwinds from Hollywood’s strikes—but its outlook remains stable. The sale of a majority stake in the talent agency CAA by the …
Falling key raw material costs, robust domestic consumption and sustained government spending on infrastructure will support earnings of India’s non-financial companies, Moody’s Investors Service said. Earnings before interest, taxes, depreciation and amortisation (EBITDA) of Indian companies rated by Moody’s will grow 5%-10% over the next two years as prices of key raw materials like crude …