S&P affirms Molymet

S&P said it affirmed its BBB- global scale and mxAA national scale ratings on Molibdenos y Metales SA (Molymet).

At the same time, the agency affirmed the BBB- and mxAA issue-level ratings on Molymet's senior unsecured bonds.

The outlook remains stable.

S&P said the affirmation reflects increasing molybdenum prices and the company's flexibility to adjust its revenue mix towards higher value-added products, which currently contribute about 20% of revenue.

It also incorporates the strong demand for metals due to global economic growth, including China as the largest metals consumer, and Molymet's improved client portfolio diversification, the agency added.

© 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.