S&P revises Zijin Mining view to negative

S&P said it affirmed its BBB- long-term issuer credit rating on Zijin Mining Group Co. Ltd. and BBB- issue rating on the China-based mine operator's guaranteed senior unsecured notes.

S&P removed the ratings from CreditWatch, where they were placed with negative implications on Dec. 6.

“The negative outlook reflects the company's elevated leverage in 2020 and the risk of slower demand due to global pandemic or execution risk of new projects could detail Zijin's deleveraging trend in the next 24 months,” S&P said in a news release.

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