Moody's rates Bemax Ba3

Moody's Investors Service said it assigned provisional Ba3 corporate family and senior unsecured ratings to Bemax Resources Ltd.

The outlook is stable.

The ratings reflect Bemax's relatively small size and developing track record of operations, Moody's said, and are constrained by the company's exposure to construction and ramp-up risks associated with expanding operations.

These challenges are balanced by Bemax's adequate financial profile, considering its substantial capital investment program in the next two years, the agency said.

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