Moody's: Iberian Minerals notes B2

Moody's Investors Service said it assigned a provisional B2 corporate family rating and a provisional B2 probability of default rating to Iberian Minerals Corp.

Concurrently, the agency said it assigned a provisional B2 rating with a loss-given default assessment of 3 (48%) to the proposed $200 million of senior secured guaranteed notes to be issued by Iberian Minerals Financing SA, a fully owned subsidiary of Iberian.

The outlook on all ratings is stable.

The agency said the provisional corporate family rating on Iberian is predicated on the issuance of the senior secured notes and the ongoing support of its ultimate parent Trafigura.

© 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.