Moody's rates ENRC Ba2

Moody's Investors Service said it assigned a corporate family rating of Ba2 to Eurasian Natural Resources Corp. plc.

The outlook is stable.

The Ba2 issuer rating recognizes the company's good access to high grade and long reserve life mining assets in Kazakhstan, favorable cost structure, conservative balance sheet structure and experienced management, the agency said.

The rating is constrained by ENRC's exposure to volatile metals markets, the group's strong customer concentration, limited geographical diversification, capital intensiveness of the business and fairly high event risk, the agency noted.

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