Moody's rates Eldorado CFR, notes Ba3

Moody's Investors Service said it assigned Eldorado Gold Corp. Ba3 corporate family and probability of default ratings, a Ba3 senior unsecured rating to the company's $500 million proposed notes issuance and SGL-2 speculative grade liquidity rating.

The outlook is stable.

Moody's said the Ba3 corporate family rating reflects the company's concentration of production in gold and its resulting exposure to volatile gold prices coupled with its modest scale and limited geographic and mine diversity which is exacerbated by the location of Eldorado's operations in non-traditional mining jurisdictions (mainly Turkey, China and Greece).

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