Moody's cuts Bemax to Caa1

Moody's Investors Service said it downgraded the corporate family and senior unsecured ratings of Bemax Resources Ltd. to Caa1 from B3.

The outlook is negative.

The downgrade reflects elevated concerns with regard to the company's capacity to maintain sufficient liquidity to fund ongoing operations and capital expenditure, Moody's said.

At the same time, end-user demand for the company's products faces protracted challenges as regional and global economies continue to slow, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.