Moody's rates Clarendon Alumina notes B3

Moody's Investors Service said it assigned a B3 foreign currency rating to Clarendon Alumina Production Ltd.'s proposed $200 million senior unsecured note issue due 2021.

Proceeds will be used to refinance existing secured debt, other liabilities and for general corporate purposes.

Moody's said the rating assumes that the secured existing debt has been repaid and that the relevant security interests, particularly in receivables, have been released.

The outlook is stable.

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