Moody’s: Codelco ratings unaffected

Moody's Investors Service said that Corporación Nacional del Cobre de Chile's (Codelco) A3 rating and stable outlook are not immediately affected by the downgrade of Chile's issuer and senior unsecured debt ratings to A1 from Aa3 with a stable outlook.

“The action does not change our views on the government's willingness or ability to back Codelco in case of need and we continue to incorporate the assumption of a high likelihood of sovereign support into the company´s ratings,” the agency said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.