https://newsletter.mw.creamermedia.com
Financial|Flow|Iron Ore|Mining|PROJECT|Resources|Services|Flow
Financial|Flow|Iron Ore|Mining|PROJECT|Resources|Services|Flow
financial|flow-company|iron-ore|mining|project|resources|services|flow-industry-term

MinRes' credit rating downgraded by Fitch

5th March 2025

By: Creamer Media Reporter

     

Font size: - +

ASX-listed Mineral Resources (MinRes) has had its credit rating downgraded by Fitch Ratings to BB- from BB, with a negative outlook, the company announced on Wednesday.

The downgrade aligns Fitch’s rating with MinRes’ existing Moody’s rating of Ba3, which has remained unchanged since its initiation in 2019.

Despite the downgrade, MinRes highlighted its covenant-light capital structure, significant liquidity, and a clear path to reducing debt through earnings growth. The company expects its Onslow Iron project to ramp up to nameplate capacity early in. the 2026 financial year, generating substantial cash flow for its iron-ore and mining services divisions.

MinRes also noted that its first US bonds do not mature until May 2027 and can be refinanced at par from May 2025. The company remains committed to its long-term leverage target of 2.0 times earnings before interest, taxes, depreciation and amortisation.

Edited by Creamer Media Reporter

Comments

Showroom

Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
12th March 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.111 0.186s - 128pq - 2rq
Subscribe Now