CAPITAL MARKETS

FMG upgraded after debt repayment

MOODY’S Investors Service has upgraded Fortescue Metals Group’s outlook from negative to stable following recent debt repayments.

Kristie Batten
FMG upgraded after debt repayment

The agency reaffirmed the miner’s Ba3 rating. “The debt reduction achieved in the second half of fiscal 2016 has lowered breakeven costs and created a substantial buffer for the company to maintain leverage...

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