Moody’s downgrades Volcan

Moody's Investors Service said it downgraded to B1 from Ba2 the corporate family rating of Volcan Compania Minera SAA and the rating of its senior unsecured notes due in February 2022.

The outlook is negative.

“The downgrade to B1 reflects the weakening of Volcan's liquidity position, combined with the company's weaker profitability and financial profile at a time of heightened pressure on base metals prices,” the agency said in a news release.

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