India, May 27 -- The Vedanta Group has received its strongest domestic credit rating in over 10 years after rating agency ICRA upgraded the long-term ratings of its major entities to AA+, signalling growing confidence in the company's financial position and operational strength.

The upgrade comes at a crucial phase for the Group as it moves ahead with its demerger process. Two of the biggest entities emerging from this restructuring - Vedanta Limited (VEDL) and Vedanta Aluminium Metal Limited (VAML) - have both secured AA+ ratings with a Stable outlook. Talwandi Sabo Power Limited (TSPL) has also seen its rating upgraded to AA-/Stable from A+/Watch Developing.

ICRA also retained Vedanta's short-term rating at A1+, which is the highest c...