-
Codelco Put Under Review by Moody’s With Debt Piling Up
Codelco is facing the possibility of a credit rating cut as slumping production, rising costs and project disruptions dim leverage metrics at the world’s biggest copper supplier. Moody’s Investors Service placed Codelco ratings under review for downgrade, the firm said in a statement Tuesday, citing major operational challenges and structural declines in ore grades. Moody’s rates Codelco A3, its fourth-lowest investment grade. “The review for downgrade reflects the likelihood that production volumes will not materially improve in the short term and will remain below historical levels in the next 12 to 18 ... (full story)