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Moody's drops Yandal ratings again

MOODY'S Investors Service has cut Newmont Yandal's credit rating for the second time in a fortnight and retained its negative outlook after Newmont Mining offered to buy US$438 million in debt and gold hedge book liabilities for half price.

Greg Tubby
Moody's drops Yandal ratings again

Moody's dropped Yandal's senior unsecured, senior implied and senior unsecured issuer ratings from Caa1 to Ca, six notches below junk bond status. The ratings agency said the downgrade results from the...

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