- Write by:
-
Wednesday, November 22, 2023 - 23:07:19
-
158 Visit
-
Print
Mining News Pro - Ratings agency Fitch downgraded Chile’s state-owned copper giant Codelco’s credit rating by one notch to BBB+ from A-, it said in a statement on Wednesday, the first downgrade by the agency in five years, though it maintained a stable outlook.
“The downgrade of Codelco’s ratings is a result of lowering its standalone credit profile… reflecting the deterioration of (its) credit profile,” said Fitch.
The new rating applies to Codelco’s long-term foreign and local currency issuer default rating and its senior unsecured notes.
The last time Fitch downgraded the world’s largest copper producer’s credit rating was in 2018. It has maintained the A- rating since, with its last affirmation of its senior unsecured notes in September.
The new rating is still three notches within the agency’s investment grade status.
Short Link:
https://www.miningnews.ir/En/News/627673
Peru’s dented mining mojo, hit by years of political turmoil in the Andean country, is being buoyed by strong copper ...
Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time ...
As BHP Group considers its next move, there’s one big question facing the mining world’s bankers, analysts and ...
Around $7 billion of infrastructure investments in the Democratic Republic of Congo by Chinese companies in a revised ...
Adani Enterprises Ltd., which posted a 38% fall in quarterly profit, said India’s markets regulator has queried it about ...
China’s leading metals companies, including its state iron ore buyer, are considering their next moves following BHP ...
BHP Group (ASX: BHP) has deployed a senior team including its chief executive officer to South Africa as the world’s ...
Barrick Gold Corp.’s chief executive officer says the gold miner will continue to host virtual-only annual general ...
China’s copper producers are planning to export up to 100,000 metric tons of metal, the largest volume in 12 years, ...
No comments have been posted yet ...