Fitch rates Molymet BBB

Fitch Ratings said it assigned BBB foreign- and local-currency issuer default ratings to Molibdenos y Metales SA.

The outlook is stable.

According to Fitch, the investment grade ratings are supported by the company's strong business position, the long-term relationships with suppliers of molybdenite ore and end users of molybdenum products and its proven commitment to a conservative capital structure.

During the past five years, the company's total debt-to-EBITDA ratio has averaged 1.9 times.

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