Moody’s revises Eldorado Gold to negative

Moody's Investors Service said it revised the outlook for Eldorado Gold Corp. to negative from stable and affirmed its B1 corporate family rating, B1-PD probability of default rating and B1 senior unsecured note ratings.

The speculative grade liquidity rating was lowered to SGL-2 from SGL-1.

"The negative outlook reflects Eldorado's elevated leverage, the execution risk in developing key projects in Greece where government actions have delayed development, and production challenges at its main operating mine in Turkey," Moody's analyst Jamie Koutsoukis said in a news release.

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