CAPITAL MARKETS

Moody's cuts Yandal rating, retains negative outlook

MOODY'S Investment Services has cut its debt rating for Newmont Yandal Operations, reflecting the challenges Yandal faces in meeting its debt obligations given its reducing production profile, increasing cost base, and limited proven reserve position.

Greg Tubby

Moody's, which retained a negative outlook for Yandal, said the rating was also based on the company's high leverage and the termination rights of hedge counterparties before the hedge contracts mature....

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