Moody’s might cut Tianqi Lithium

Moody's Investors Service said it placed on review for downgrade the Baa3 issuer rating of Tianqi Lithium Corp., and the Baa3 senior unsecured rating on the bonds issued by Tianqi Finco Co., Ltd. and guaranteed by Tianqi Lithium.

“The review for downgrade reflects Tianqi Lithium's slower than expected deleveraging, due to delays in executing its equity financing plan and a weaker operating performance amid volatility in lithium chemical prices,” Gerwin Ho, Moody's vice president and senior credit officer, said in a news release.

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