Moody’s revises Korea Resources view to negative

Moody’s Investors Service said it changed the outlooks on Korea Resources Corp. and Minera y Metalurgica del Boleo, SAPI de CV to negative from stable.

Moody’s affirmed Korea Resource’s A1 issuer and senior unsecured rating as well as the A1 rating on Minera’s backed senior unsecured rating. Minera’s rating reflects the guarantee from parent Korea Resources.

“The rating action mainly reflects the delay and uncertainty around the national assembly’s approval of the consolidation of KORES with Mine Reclamation Corp.,” said Wan Hee Yoo, a Moody’s vice president and senior credit officer, in a press release.

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