S&P Cuts Rating for Consolidated Minerals

Reuters reported that S&P has cut their rating for Consolidated Minerals from ‘B’ to ‘B-‘, due to waning demand from Chinese steel producers.

As quoted in the market report:

The negative outlook reflects the risk that group EBITDA may not improve significantly in 2013 and that potentially negative free operating cash flow could weaken ConsMin’s liquidity.

To view the whole Reuters report, click here.