Moody's rates Consolidated Minerals notes B2

Moody's Investors Service said it assigned a definitive B2 rating to $405 million of senior secured notes issued by Consolidated Minerals Ltd.

The outlook is stable.

The rating is supported by the company's access to high grade manganese reserves in Australia, substantial life of a mine in Ghana and track record of increasing the group's reserves life of its Australian operations, Moody's said.

The ratings also reflect its relatively strong market positions in a consolidated manganese industry and conservative balance sheet structure following the restructuring of the group's shareholder loan into a highly subordinated instrument as part of the considered transaction, the agency said.

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