Moody's rates Lumena Resources

Moody's Investors Service said it assigned a provisional B1 corporate family rating to Lumena Resources Corp., along with a provisional B1 rating to the proposed senior unsecured notes to be issued by Lumena.

The outlook is stable.

Moody's said it expects to remove the provisional status of the ratings and assign final B1 ratings when the bond transaction is completed.

The ratings reflect the company's position as a small player - with a single product - in the broad chemicals market, Moody's said. This situation is balanced by its role as a leading producer of thenardite, or anhydrous sodium sulphate, in China, the agency said.

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