S&P may cut Stillwater Mining

Standard & Poor's said it placed the B- corporate credit rating on Stillwater Mining Co. on CreditWatch with negative implications.

"The CreditWatch listing reflects our concern regarding the possible loss of the supply contract between Stillwater and General Motors Corp. The company's platinum group metals supply agreements with GM and Ford Motor Co. include provisions that guarantee a minimum purchase price for palladium and platinum even when prices fall below stipulated levels, a benefit to Stillwater given today's relatively low PGM prices," S&P analyst Maurice Austin said in a statement.

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