Fitch Ratings downgraded Mineral Resources' (ASX:MIN) issuer default rating (IDR) to "BB-" from "BB," with a negative outlook, according to a Tuesday statement from the credit rating agency.
The downgrade was attributed to the Australian miner's "high leverage and increased deleveraging risks over the medium term." Fitch Ratings expects Mineral Resources' earnings before interest, taxes, depreciation, and amortization net leverage to worsen to 7.3x in fiscal 2025 from 4.9x in the prior year.
The rating agency said the negative outlook was due to the possibility of the company's leverage staying above average amid its production ramp-up at the Onslow project in Western Australia, as well as its cost-cutting measures.
Fitch Ratings also cut Mineral Resources' US dollar senior unsecured notes to "BB-" from "BB."
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。