Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers L > Headlines for Lumena Resources Corp. > News item |
Moody's reviews Lumena
Moody's Investors Service said it put on review for possible downgrade Lumena Resources Corp.'s B1 corporate family and senior unsecured bond ratings.
The review has been prompted by news that the company's controlling shareholder has pledged a stake of about 20.5% as security for a loan from Bank of China International, Moody's said.
The agency said it previously had concerns about Lumena's untested financial discipline and corporate governance due to its short track record as a listed entity. This recent transaction raises concerns about these issues, Moody's said.
The pledge of support adds a degree of uncertainty over the stability of Lumena's financial profile, the agency said.
© 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.